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.
