Core PPI Rose 0.1% in November, Beating Expectations
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U.S. wholesale prices were mixed in November, according to new data from the Labor Department Thursday morning.
The producer price index rose 0.3 percent for the month, hotter than the 0.2 percent expected by the Street. October's PPI reading fell 0.3 percent.
Core PPI, which excludes the volatile food and energy sectors, rose 0.1 percent for the month, lower than a reading of 0.2 percent economists had expected.
Such PPI numbers point to only a very modest move higher in inflation, and considering last month's decline, reaffirm the Fed's policy decision to hold rates at 0 to 0.25 percent through mid-2013.
Wholesale energy prices rose 0.1 percent, led by heating oil and diesel fuel which were offset by drops in natural gas and gasoline prices.
Companies are paying 5.7 percent more for goods when compared with November of last year, the smallest year-over-year increase since March. Core prices rose 2.9 percent over the last 12 months. Economists had been expecting annual growth of 5.8 percent and 2.9 percent for the core figure.
The producer price index rose 0.3 percent for the month, hotter than the 0.2 percent expected by the Street. October's PPI reading fell 0.3 percent.
Core PPI, which excludes the volatile food and energy sectors, rose 0.1 percent for the month, lower than a reading of 0.2 percent economists had expected.
Such PPI numbers point to only a very modest move higher in inflation, and considering last month's decline, reaffirm the Fed's policy decision to hold rates at 0 to 0.25 percent through mid-2013.
Wholesale energy prices rose 0.1 percent, led by heating oil and diesel fuel which were offset by drops in natural gas and gasoline prices.
Companies are paying 5.7 percent more for goods when compared with November of last year, the smallest year-over-year increase since March. Core prices rose 2.9 percent over the last 12 months. Economists had been expecting annual growth of 5.8 percent and 2.9 percent for the core figure.
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