US producer prices exceed expectations in November Author Reuters

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© Reuters. PHOTO FILE: Customers browse the Home Depot building material store wearing masks to help slow the spread of coronavirus disease (COVID-19) in northern St. Louis. Louis, Missouri, USA, April 4, 2020 REUTERS / Lawrence Bryant / File Photo / Photo File

WASHINGTON (Reuters) – U.S. producer prices rose more than expected in November as supply constraints continued, leading to the biggest annual gain since the series resumed in 2010, backing views that inflation would the weather could remain uncomfortably high.

The producer price index for final demand jumped 0.8 percent last month after rising 0.6 percent in October, the labor ministry said on Tuesday. In the 12 months to November, PPIs rose 9.6%. It was the biggest gain since November 2010 and followed an 8.8% increase in October.

Economists polled by Reuters predicted an increase in the price index of 0.5% on a monthly basis and an increase of 9.2% on an annual basis.

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