Producer Prices Increase 0.2% in November Amid Federal Shutdown Delay
The U.S. wholesale prices experienced a slight increase in November, according to a recent report from the Labor Department. This report was delayed due to a federal government shutdown that lasted 43 days last fall.
Producer Price Index Overview
The producer price index (PPI), which gauges inflation prior to it reaching consumers, rose by 0.2% in November compared to October. From the same month a year earlier, the PPI increased by 3%.
Impact of Government Shutdown
The scheduled release of this PPI report was originally set for December 11. However, the delay due to the government shutdown pushed back its availability.
Key Statistics
- PPI Increase: 0.2% from October
- Year-over-Year Increase: 3% from November 2024
- Core Wholesale Prices: Unchanged from October
- Core Year-over-Year Increase: 3% from November 2024
Gasoline Prices Surge
November saw a marked rise in gasoline prices, contributing to the overall increase in wholesale prices. If volatile food and energy prices are excluded, the core wholesale prices remained stable.
Inflation Trends
Despite expectations that President Donald Trump’s import tax policies would elevate inflation significantly, the actual impact has been less severe. Recent data showed that consumer price inflation rose only 0.3% last month and 2.7% from December 2024.
Consumer inflation still exceeds the Federal Reserve’s target of 2%, indicating ongoing economic pressures.
Future Reports
The Labor Department plans to release the PPI for December on January 30, further examining inflation trends in the coming months.
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