Producer prices for finished goods in the U.S. rose more than expected in November, posting an increase for the fifth straight month.
U.S. producer price index (PPI) increased 0.8 percent in November, the Labor Department said on Tuesday.
Markets had expected the index to rise by 0.5 percent in November. Producer prices were mainly driven up in November by a 2.1 percent increase in energy goods, their fourth consecutive monthly increase. Prices for consumer goods rose 1 percent.
Also, PPI for intermediate materials, supplies, and components moved up 1.1 percent in November, recording an increase for a fourth consecutive month. Year-on-year, PPI went up by 3.5 percent in November.