Wholesale prices below estimates but bonds yawn ahead of CPI

We got some relief on the December wholesale price data with the headline gain of .2%, two tenths below expectations after a .4% pop in November. The core rate was flat after a two tenths gain last month. The y/o/y gains for each are 3.3% and 3.5% vs 3% and 3.5% in the month before.

The thing of note was the .6% m/o/m jump in goods prices after a .7% rise in November. Helping was the 10% rise in gasoline but also prices rose for residential electric power, meats, motor vehicles, gas fuels and fresh fruits. They fell back down in fresh and dry vegetables by 15% after spiking last month by 33%.