US producer inflation annually slows to 0.9% in November

By Ovunc Kutlu

ISTANBUL (AA) - US producer inflation annually slowed down to a gain of 0.9% in November, according to official figures released on Wednesday.

The figure for October was revised down to an annual increase of 1.2%, from 1.3%, while the annual increase in September stood at 2.2%.

The producer price index (PPI), which measures changes in the price of goods and services from a producer perspective, also came in slightly lower than market estimates 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 Labor Department said in a statement.

On a monthly basis, the PPI remained unchanged in November, compared to the previous month, also coming lower than the market expectation of a 0.1% increase.

The monthly figure for October was revised to a decline of 0.4%, from a decrease of 0.5%.

Core producer prices, which exclude food, energy and trade, increased 0.1% in November after rising 0.1% in the month before.

Core PPI in November increased 2.5% on an annual basis, following a gain of 2.8% in October.