USA: Producer price inflation at 3% in November

O inflation of producer prices on USA rose more than analysts expected in November this year on a year-over-year basis.

More specifically, the US producer price index ran at 3% in November revised upwards from 2.6% in October. The initial reading for October was at 2.4% while the average analyst forecast for November was expecting a rise of 2.6%. The 3% that was finally recorded was also the highest level where the index has been found since February 2023. Also, at 3.4% structural wholesale inflation (not including the volatile prices for energy and food) it is above analysts’ forecasts.

Annual wholesale inflation had slowed to 1.8% in September from 1.9% in August. In October it increased to 2.4%. On a monthly basis, the index strengthened by 0.4% against a forecast for a rise of 0.2%. Excluding the volatile food and energy categories, the structural index rose 3.4% year-on-year, above forecasts for a 3.2% rise.

On a monthly basis, the structural producer price index registered a rise of 0.2%, as expected by analysts.