US producer prices rose more than expected in November, as supply chain problems continued, fueling fears that inflation could remain at “unpleasant” levels for some time.
In particular, the producer price index (PPI) strengthened by 0.8% last month, after rising by 0.6% in October, according to data released by the Ministry of Labor.
On an annual basis, the index jumped by 9.6%, which is the highest growth rate since November 2010. It is noted that in October the index strengthened on an annual basis by 8.8%.
Economists polled by Reuters expected a 0.5% rise in the producer price index on a monthly basis and a 9.2% rise in the 12-month period.
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Source From: Capital
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