Investing.com - Producer price inflation in the U.S. fell more-than-expected in November, while core prices eased up slightly, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that producer prices fell by a seasonally adjusted 0.8% in November, compared to expectations for a 0.5% decline, after falling 0.2% in October.
Year-over-year, the producer price index rose at an annualized rate of 1.5% last month, below expectations for a gain of 1.8%. PPI rose at an annualized rate of 2.3% in October.
The core producer price index eased up 0.1% in November, compared to expectations for a 0.2% increase, after falling 0.2% in October.
Core produces prices rose at an annualized rate of 2.2% last month, in line with expectations.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar was modestly higher against the euro, with EUR/USD dipping 0.05% to trade at 1.3067.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures were little changed, while the Nasdaq 100 futures pointed to a loss of 0.1%.
In a report, the Bureau of Labor Statistics said that producer prices fell by a seasonally adjusted 0.8% in November, compared to expectations for a 0.5% decline, after falling 0.2% in October.
Year-over-year, the producer price index rose at an annualized rate of 1.5% last month, below expectations for a gain of 1.8%. PPI rose at an annualized rate of 2.3% in October.
The core producer price index eased up 0.1% in November, compared to expectations for a 0.2% increase, after falling 0.2% in October.
Core produces prices rose at an annualized rate of 2.2% last month, in line with expectations.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar was modestly higher against the euro, with EUR/USD dipping 0.05% to trade at 1.3067.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures were little changed, while the Nasdaq 100 futures pointed to a loss of 0.1%.