U.S. Producer Prices Increase; Near-term Inflation Expectations Ease – By Lucia Mutikani (IB Times) / Dec 9, 2022
U.S. producer prices rose slightly more than expected in November amid a jump in the costs of services, but the trend is moderating, with annual inflation at the factory gate posting its smallest increase in 1-1/2 years.
The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. Consumers’ one-year inflation expectations fell to a 15-month low in December, other data showed.
The reports were published ahead of the Federal Reserve’s two-day policy meeting next week, at which the U.S. central bank is expected to start dialing back the size of its interest rate increases. Consumer prices data next week will shed more light on the path of inflation.
CONTINUE > https://www.ibtimes.com/us-producer-prices-increase-near-term-inflation-expectations-ease-3645671
