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
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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.
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