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US producer prices increase moderately in November
The Producer Price Index rose 3% year-over-year with energy prices up 4.6%, influenced by tariffs and delayed data from a federal shutdown, the Bureau of Labor Statistics said.
- On Wednesday, the U.S. Labor Department reported the producer price index rose 0.2% in November from October and 3% from a year earlier.
- They were supposed to come out Dec. 11, but the report was delayed by last fall's 43-day federal government shutdown.
- Excluding food and energy, core wholesale prices were unchanged from October and up 3% from November 2024, with import taxes' impact more modest than expected.
- The Labor Department reported consumer price inflation cooled last month, rising 0.3% from November and 2.7% from December 2024, but it remains above the Federal Reserve's 2% target.
- December's PPI, originally scheduled for Wednesday, is now set for Jan. 30, and the U.S. Labor Department says it measures inflation before it reaches consumers.
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By Alicia Wallace, CNN. Price increases for US businesses accelerated late last year, which could indicate that inflation has not yet peaked and that consumer prices could rise even faster soon. Wholesale inflation in the United States accelerated in November, driven in part by rapidly rising energy prices, according to data released Wednesday, the release of which was delayed due to the partial government shutdown.
·Idaho Falls, United States
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Coverage Details
Total News Sources49
Leaning Left8Leaning Right6Center25Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 21%
C 64%
15%
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