US producer prices increase slightly in November
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[WASHINGTON] US producer prices barely rose in November, supporting views that inflation would remain benign in the near term as a flare up in new Covid-19 infections restrains the labour market and demand for services.
The producer price index for final demand edged up 0.1 per cent last month after increasing 0.3 per cent in October, the Labor Department said on Friday. That was the smallest gain since April. In the 12 months through November, the PPI advanced 0.8 per cent after increasing 0.5 per cent in October.
Economists polled by Reuters had forecast the PPI gaining 0.2 per cent in November and rising 0.8 per cent on a year-on-year basis.
REUTERS
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