US Producer Prices Surpass Expectations
This result surpassed projections of 2.7% for the month and followed a 2.8% rise in October. On a month-to-month basis, the PPI increased 0.2%, in line with predictions.
"The November increase in prices for final demand can be traced to a 0.9-percent advance in the index for final demand goods. Prices for final demand services were unchanged," the bureau stated.
The agency noted that over half of the November growth in the index for final demand goods was linked to gasoline prices, which surged 10.5%.
Prices for final demand excluding foods, energy, and trade services rose 0.2% after a 0.7% increase in October.
"For the 12 months ended in November, prices for final demand less foods, energy, and trade services climbed 3.5%, the largest 12-month increase since rising 3.5% in March," the bureau reported.
Core PPI, which omits the often-volatile costs of food and energy, remained unchanged in November, falling short of forecasts anticipating a 0.2% gain.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
