US PPI's miss reviewed - Nomura

Analysts at Nomura explained that the headline PPI increased modestly by 0.2% m-o-m in August, lower than the consensus forecast of a 0.3% gain. 

Key Quotes:

"Trade prices, which measure changes in margins received by wholesalers and retailers, remained flat, after a 0.5% decline in July. Excluding volatile food (-1.3%), energy (+3.3%) and trade (0.0%) prices, core PPI rose 0.2% in August, slightly above consensus forecast of a 0.1% gain."

"Core consumer goods (ex-food and energy) rose 0.1%. Without volatile components, inflationary pressure appears modest."