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What will be the U.S. PPI annual growth rate for 2024?
4
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U.S. Bureau of Labor Statistics annual PPI report
Story
U.S. PPI Climbs 0.4% in November, Exceeds Forecasts
Dec 12, 2024, 01:33 PM
U.S. producer prices increased more than expected in November, indicating persistent inflationary pressures in the economy. The Producer Price Index (PPI) for final demand rose 0.4% month-over-month, exceeding economists' expectations of a 0.2% increase and marking the highest monthly gain since April. On an annual basis, PPI advanced 3.0%, surpassing estimates of 2.6% and up from the previous month's revised figure of 2.6%. Notably, prior PPI data were revised higher, with October's annual PPI inflation adjusted from 2.4% to 2.6%. Core PPI, which excludes volatile food and energy prices, climbed 0.2% month-over-month, in line with forecasts, and 3.4% year-over-year, higher than the expected 3.2% and up from the prior month's revised 3.4%, reaching its highest level since February. The stronger-than-expected PPI data may influence the Federal Reserve's monetary policy decisions as it balances inflationary pressures with economic growth.
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