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U.S. producer prices exceed expectations in November -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A group of shoppers browses at a Home Depot building materials store, while they wear masks that slow the spread coronavirus disease (COVID-19), north St. Louis Missouri. U.S. April 4, 2019. REUTERS/Lawrence Bryant/File Photos/File Photograph

WASHINGTON (Reuters] – The U.S. producer market prices rose more than anticipated in November because of supply constraints. These results support the belief that inflation might remain elevated for some time.

Labor Department reported Tuesday that the producer price index, which measures final demand for finished goods, grew 0.8% in November after rising 0.6% in October. The PPI climbed 9.6% in the twelve months to November. It was the highest gain in the PPI since November 2010. This follows an 8.8% increase from October.

According to Reuters polls, economists forecast that the PPI will rise by 0.5% monthly and climb 9.2% per year.

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