PPI at 0.1 brings us solidly back in line with pre-covid inflation numbers; with the 12-month at 2.2.

Core PPI still higher at 0.3 (3.3 for the 12 month period).

Certainly feels like the covid kinks have mostly worked out at this point and prices have stabilized… If there’s no shocks it’s looking much more likely the Fed lowers interest rates this quarter.