Producer Prices Accelerate to Series-High in November

Source: Bureau of Labor Statistics

Producer prices climbed to a series-high in November, driven mainly by higher energy costs during the month.

• The final demand index surged by 9.6% in the 12 months ended November, marking the biggest climb since data collection started in November 2010.
• The latest figure compares with the 6.3% in October, and the 1.0% the same month last year.
• Total final demand for November versus the previous month grew by 0.8%, up from 0.6% in August to October and 0.0% in November 2020.
• Final demand services increased by 0.7% in November to mark the 11th straight month of growth.
• Final demand services less food, energy, and trade grew by 0.7%, up from 0.4% in October and 0.2% the same month last year.
• Foods increased by 1.2% to overtake the -0.3% in October, while energy prices jumped by 2.6%, slower than the 5.3% in October.