US producer prices rise more quickly than expected in November

Producer prices rose more quickly than expected in November amid widespread gains the various categories of goods.

According to the US Department of Labor, so-called final demand prices increased by 0.8% versus October, pushing the annual rate of increase to 9.6%.

Economists had penciled-in growth of 0.5% on the month and 9.2% year-on-year.

Food prices rose by 1.2% on the month while energy was 2.6% dearer.

But prices also bounded ahead of forecasts at the core level, which excludes the often volatile prices for food and energy, rising by 0.8% (consensus: 0.5%).

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