Wholesale Inflation in US Further Slowed in November to 7.4%

WASHINGTON — Wholesale prices in the United States rose 7.4% in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool, according to an Associated Press report.

The latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March. On a monthly basis, the government said Friday that its producer price index, which measures costs before they reach consumers, rose 0.3% from October to November for the third straight month.

Still, a measure of “core” producer prices, which exclude volatile food and energy costs, accelerated, rising 0.4% from October to November. The core figure had risen just 0.1% from September to October. Looked at over the past 12 months, though, core producer prices were up 6.2% in November, less than the 6.7% in October.

The latest figures reflect an ongoing shift in inflation from goods to services. The cost of goods rose just 0.1% from October to November, with wholesale gas prices tumbling 6%. (Food prices were an exception: They jumped 3.3% last month, fueled by costlier vegetables, eggs and chicken.)

Read the full Associated Press report.

Source: https://rvbusiness.com/wholesale-inflation-in-us-further-slowed-in-november-to-7-4/