

An index of wholesale prices rose 9.6% compared to a year ago, its largest annual gain since the government began calculating in 2010.
The big picture: The Producer Price Index (PPI) started off the year showing 12-month price growth of 1.6% and has moved up steadily all year.
Why it matters: The PPI is a key leading indicator for the prices that consumers eventually pay.
- "[December] should be the peak," wrote Pantheon Macroeconomics in a research note. "A combination of favorable base effects and smaller month-to-month increases should start to drive down the year-over-year rate."
State of play: On the whole, companies passed on enough of their input cost increases to customers during Q3 to preserve profit margins.
- Watch for whether margins continue to hold up in Q4. The first round of earnings start rolling in next month.