November Wholesale Inflation Rises 0.3% - Modern Distribution Management

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November Wholesale Inflation Rises 0.3%

Final demand prices had declined 0.4% in July and remained stagnant in August before slightly increasing in each of the past three months.
There was an unexpected drop in producer prices in February, and January's price rise was not as large as initially anticipated.

Wholesale inflation rose by 0.3% in November, matching 0.3% inflation increases in both October and September, according to Producer Price Index data released Dec. 9 by the Bureau of Labor Statistics (BLS).

Final demand prices had declined 0.4% in July and remained stagnant in August before slightly increasing in each of the past three months, according to BLS data. For the 12-month period ending in November, the index for final demand increased 7.4%, the smallest gain since May 2021.

After increasing 0.8% in October, food prices vaulted 3.3% in November, which is the largest hike in food prices this year. Energy prices, however, went in the opposite direction, falling 3.3% in November after increasing 2.3% in October.

The data was released ahead of the Federal Reserve’s two-day policy meeting next week, during which the U.S. central bank is expected to begin reducing the size of its interest rate increases, according to media reports.

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