Wholesale prices rose 0.4% in November, more than expected
As concerns about whether the pace of progress in reducing inflation has slowed, a measure of wholesale prices increased more than anticipated in November, the Bureau of Labor Statistics said Thursday.
In comparison to the Dow Jones consensus projection of 0.2%, the producer price index, or PPI, which gauges what producers receive for their goods at the final demand stage, grew by 0.4% for the month. PPI increased 3% annually, the largest increase since February 2023.
But when food and energy were taken out of the equation, the core PPI rose by 0.2%, as predicted. Additionally, the PPI increase was only 0.1% once trade services were subtracted. Additionally, the 3.5% year-over-year gain was the most since February 2023.
In other economic news on Thursday, the Labor Department announced tha...