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US producer prices were unchanged in November; underlying inflation soft

December 12, 2019


U.S. producer prices were unexpectedly unchanged in November as increases in food and gasoline prices were offset by declining costs for services, pointing to muted inflation despite a recent uptick in consumer prices.

The Labor Department said on Thursday the flat reading in its producer price index for final demand last month followed a 0.4% surge in October. In the 12 months through November, the PPI gained 1.1%, matching October’s rise, which was the smallest increase since October 2016.

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