Investing.com - U.S. producer prices rose in November, according to data released on Tuesday.
The Labor Department said its producer price index increased 0.1% last month. In the 12 months through November, the PPI rose 2.5%.
Both readings were in line with consensus.
Core PPI increased by 0.3% from a month earlier and rose 2.7% in the 12 months through November.
Analysts had predicted core PPI to increase 0.1% month-on-month and 2.5% on an annualized basis.
Core PPI is a key gauge of underlying producer price pressures that excludes food and energy costs.
The Federal Reserve keeps its eye on this data because, when producers pay more for goods, they are more likely to pass price increases on to the consumer. In that sense, PPI could be considered a leading indicator of inflation.
The consumer price index for November will be released on Wednesday.