Prices paid to US producers posted a record increase of nearly 10% in November, a surge likely to sustain inflationary pressures into 2022.
- The producer price index for final demand rose by 9.6% from a prior year and 0.8% from the previous month.
- The annual increase was the largest since 2010. Stock index futures expanded losses as the data reinforced expectations that Federal Reserve policymakers to tighten monetary policy next year.
- The core PPI, excluding the volatile food and energy elements, rose by 0.7% and was up by a record 7.7% from the prior year.
- Prices of goods and services were both up last month—the report signal changes in prices paid to producers and margins enjoyed by wholesalers and retailers.
Materials costs have increased significantly this year on transportation bottlenecks, robust demand, and labor constraints.
DXY down -0.06%, EUR USD up +0.13%Source: U.S. Bureau of Labor Statistics
