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- U.S. producer prices climb 0.3% in November
U.S. producer prices climb 0.3% in November
The U.S. Commerce Department released the producer price index figures on Friday. The U.S. producer price index increased 0.3% in November, exceeding expectations for a flat reading, after a 0.4% drop in October.
A stronger U.S. dollar and weak global demand weigh on inflation.
Services prices were up 0.5% in November, while prices for goods declined 0.1%.
Food prices climbed 0.3% in November, while energy prices declined 0.6%.
On a yearly basis, the producer price index decreased 1.1% in November, beating forecasts of a 1.4% decline, after a 1.6% fall in October.
The producer price index excluding food and energy rose 0.3% in November, exceeding expectations for a 0.1% gain, after a 0.3% decrease in October.
On a yearly basis, the producer price index excluding food and energy climbed 0.5% in November, beating forecasts of a 0.2% increase, after a 0.1% rise in October.
These figures could mean that the Fed will start raising its interest rate next week.
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