Annual producer inflation in the United States falls to 0.9% in November

On a monthly basis, the producer price index stays steady.

According to official numbers issued on Wednesday, annual producer inflation in the United States dropped to 0.9% in November.

The annual growth in October was reduced down from 1.3% to 1.2%, while the annual increase in September was 2.2%.

The producer price index (PPI), which reflects changes in the price of goods and services from the standpoint of the producer, was likewise somewhat lower than market expectations of a 1% increase.

“In November, price increases of 0.6 percent for final demand foods and 0.2 percent for final demand goods less foods and energy offset a 1.2-percent decrease in the index for final demand energy,” the Department of Labor said in a press release.

On a monthly basis, the PPI stayed steady in November compared to the previous month, falling short of the 0.1% increase predicted by the market.

The monthly figure for October was corrected to a 0.4% reduction from a 0.5% decrease.

Core producer prices, excluding food, energy, and trade, climbed 0.1% in November after increasing 0.1% the previous month.

Core PPI up 2.5% year on year in November, following a 2.8% increase in October.