Inflation & Prices
US Producer Prices Jump on Eggs But Fed Categories Come in Soft
- PPI increased in November by most in five months on food costs
- Drops in portfolio management, airfares suggest soft PCE index
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US wholesale inflation unexpectedly accelerated in November on a surge in egg prices, while other categories suggested a muted increase in the Federal Reserve’s preferred price gauge.
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. Details showed little change or outright declines in several key categories of services prices, which economists read as allaying some concerns over recent firming in broader inflation metrics.