Producer prices post biggest annual gain in nearly six years
Strong rise in producer price index supports views that weak inflation readings have probably run their course
Washington
US producer prices rose in November as petrol prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years and pointing to a broad acceleration in wholesale inflation.
The Labor Department on Tuesday said its producer price index (PPI) for final demand increased 0.4 per cent last month. The PPI has now increased by the same margin for three straight months.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin