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Last Update: 15-Dec-11 09:53 ET
PPI Inches Higher on a Stronger-than-Expected Increase in Food Price
Producer prices increased 0.3% in November after declining 0.3% in October. The Briefing.com consensus expected the PPI to increase 0.1%.
Almost the entire gain can be attributed to a 1.0% gain in food prices, which specifically came from an 11.5% price jump in fresh and dry vegetables. As expected, energy price growth remained soft and increased only 0.1% in November.
Excluding food and energy, core prices increased 0.1% and matched consensus expectations.
There were no unusual trends in core growth.
Pricing pressures down the manufacturing pipeline remain weak in November. Core intermediate prices declined for the third time since August while core crude prices declined for the second consecutive month.
Almost the entire gain can be attributed to a 1.0% gain in food prices, which specifically came from an 11.5% price jump in fresh and dry vegetables. As expected, energy price growth remained soft and increased only 0.1% in November.
Excluding food and energy, core prices increased 0.1% and matched consensus expectations.
There were no unusual trends in core growth.
Pricing pressures down the manufacturing pipeline remain weak in November. Core intermediate prices declined for the third time since August while core crude prices declined for the second consecutive month.
