Prior was 4.7% (revised to 4.8%)PPI final demand m/m +0.4% vs +0.4% expectedPrior m/m 0.0% (revised to +0.1%)Ex-food and energy 4.6% y/y vs 4.6% expected Prior ex-food and energy 4.2% y/y (revised to 4.3%)Ex-food and energy 0.2% m/m vs 0.3% expected Ex-food, energy and trade +4.7% m/m vs +4.7% priorEx-food energy and trade +0.3% m/m vs +0.4% priorGiven the revisisions, this is a very small upside surprise but given the importance the Fed has placed on inflation reports this week, it's a meaningful reading and we're seeing dollar strength as a result. Fed funds futures have ticked up to a 64% chance of a hike this month, though part of that is certainly an 8th day of oil gains. This article was written by Adam Button at investinglive.com.