United States Producer Prices Record r Biggest Increase In Five Months In November

By  //  December 16, 2016

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In 12 months through October, PPI rose 1.3 percent

U.S. producer prices recorded their biggest increase in five months in November amid rising costs for services, pointing to steadily rising inflation pressures. (Fox Business image)

(FOX BUSINESS) – U.S. producer prices recorded their biggest increase in five months in November amid rising costs for services, pointing to steadily rising inflation pressures.

The Labor Department said on Wednesday its producer price index for final demand increased 0.4 percent last month, the largest gain since June, after being unchanged in October.

In the 12 months through October, the PPI rose 1.3 percent, the biggest gain since November 2014. The PPI rose 0.8 percent in the 12 months through October.

Economists polled by Reuters had forecast the PPI rising 0.1 percent last month and accelerating 0.9 percent from a year ago.

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