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Producer prices unexpectedly jump

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Producer prices unexpectedly jump

0.3% increase follows a 0.4% drop in October.

The seasonally-adjusted Producer Price Index for final demand increased 0.3% in November, the U.S. Bureau of Labor Statistics reported today.  This followed a 0.4% decrease in October, and a 0.5% decrease in September. The September decline was the largest since January of this year. 

Analysts had no change in the Index.

The results were largely attributed to rising services costs, offset by continued decline in oil prices and a strong US dollar.

In the 12 months through November, producer prices fell 1.1%, a smaller decline than analysts’ expectation of a 1.6% decrease during that period.

Producer prices excluding volatile food and energy costs increased 0.1%, after an identical drop in October.  This key measure was up 0.3% over the last 12 months.

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