Drop in energy prices keeps U.S. wholesale inflation under wraps in November
By Alexander Bueso
Date: Wednesday 13 Dec 2023
(Sharecast News) - Wholesale prices in the States were held in check last month by a drop in energy costs.
According to the Department of Labor, producer prices in the U.S. were flat month-on-month in November (consensus: 0.1%).
In annual terms however, so-called final demand price growth slowed from 1.2% in October to 0.9%.
On the goods side of the equation, prices were unchanged on the month, with a 1.2% drop in energy prices offsetting a 0.6% rise in food costs.
Final demand services prices were also flat in comparison to October, due to the drag from a 0.2% decline in trade prices, which include retailers' margins.
Excluding food and energy final demand prices were also unchanged (consensus: 0.2%).
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