HERE COMES THE NEW PPI...

Heads up! We are minutes away from the debut of the revamped producer price index, due out from the U.S. Bureau of Labor Statistics at 8:30 AM ET.

Economists predict the index rose 0.1% in January from the previous month (and up 1.2% from a year ago), while prices excluding food and energy are also expected to have risen 0.1% (up 1.4% from a year ago).

Today's release marks the first change to the index methodology in decades.

"The old index measured goods prices only, capturing about 30% of the economy, while the new one measures goods, services, government purchases, exports and construction, about 75% of the economy," says FTN Financial chief economist Chris Low.

Given the broader coverage of this indicator and increasing attention on inflation data in general, the new index may become of greater interest to market participants than the old one.

We will have the full release LIVE at 8:30 AM ET. Click here to refresh for the latest updates »