US Wholesale Inflation Unexpectedly Accelerates on Food Costs
US wholesale inflation unexpectedly accelerated in November as costs of food picked up.
The producer price index for final demand rose 0.4% from a month earlier, the most since June, according to a Bureau of Labor Statistics report released Thursday. The median forecast in a Bloomberg survey of economists called for a 0.2% gain. Compared with a year ago, the PPI increased 3%.
A measure excluding food and energy, meanwhile, rose 0.2% on the month and 3.4% from a year earlier.
The wholesale inflation data follow the more closely watched consumer price index, which showed Wednesday that underlying inflation remained firm for a fourth month. The string of hotter numbers follows a rapid moderation earlier in 2024, and has added to uncertainty over the trajectory for prices and interest rates as the incoming Trump administration threatens higher tariffs on imported goods.
Source : Bloomberg
