US producer inflation rises more than expected

Producer prices in the US rose 0.3 percent in November, above expectations.

October PPI data, which the US Department of Labor announced at 0.2 percent, was revised by 0.3 percent.

Economists polled by Reuters had forecast the PPI to be 0.2 percent.

On an annual basis, producer prices rose 7.4 percent in November, above expectations.

Economists had forecast the PPI to be 7.2 percent a year.

BASIC PRODUCER PRICES INCREASE 0.4 PERCENT

Core producer prices, which are not reflected in food and energy prices, rose 0.4 percent in November, above expectations.

The core PPI, which was announced as 0 percent in October, was revised to 0.1 percent.

Economists polled by Reuters had forecast the core PPI to be at 0.2 percent.

Producer prices, which were announced at an annual 8 percent in October, were revised to 8.1 percent.

On an annual basis, the core PPI rose 6.2 percent in November, above expectations.

Economists polled by Reuters had forecast it to be 5.9% a year.

The core annual PPI, which was announced at 6.7 percent in October, was revised to 6.8 percent. (Reuters)