Wholesale Inflation Firms in November as Energy Drives Prices Higher 

The Producer Price Index (PPI) for final demand rose 0.2% month over month, following a 0.1% increase in October and a sharper 0.6% gain in September. On a year-over-year basis, final demand prices were up 3.0% for the 12 months ended in November. 

The monthly advance was almost entirely concentrated in goods. Prices for final demand goods climbed 0.9%, accounting for more than 80% of the overall increase. Within that category, energy prices surged 4.6%, reflecting renewed volatility in fuel markets. By contrast, prices for final demand services were flat, helping to temper broader inflationary pressure at the producer level. 

Excluding the more volatile categories of food, energy, and trade services, core PPI rose 0.2% in November, easing from a 0.7% increase in October. Over the past 12 months, core producer prices advanced 3.5%, matching the fastest annual pace since March and signaling that underlying cost pressures remain sticky, even as headline inflation fluctuates.