U.S. wholesale prices rose modestly in November, the government said in report delayed by the federal government shutdown.
The Labor Department reported Wednesday that its producer price index — which measures inflation before it reaches consumers — rose 0.2% in November from October and 3% from a year earlier.
The numbers are old. They were supposed to come out Dec. 11, but the report was delayed by last fall’s 43-day government shutdown. The Labor Department will put out December’s producer price index on Jan. 30; it was originally scheduled to come out Wednesday.
Gasoline prices rose sharply in November. Excluding volatile food and energy prices, so-called core wholesale prices were unchanged from October and up 3% from November 2024.
President Donald Trump’s sweeping taxes on imports were expected to drive inflation sharply higher, but their impact so far has been more modest than expected.
The Labor Department reported Tuesday that consumer price inflation cooled last month, rising a modest 0.3% from November and 2.7% from December 2024. But it remains above the Federal Reserve’s 2% target.
