Wholesale Inflation is Flat for November

At the producer level, falling energy costs offset higher food prices, as the U.S. producer price index was flat in November. Services prices were flat for a second straight month amid strengthened optimism that overall inflation would continue to subside and allow the Federal Reserve to start cutting interest rates next year.

Goods prices were unchanged in November, with a 1.2 percent decline in the cost of energy products offset by a 0.6 percent rebound in food prices. Food prices shot higher as avian flu cases caused a 58.8 percent spike in wholesale egg prices. Prices for fresh fruits and melons also rose.  Meanwhile, energy costs were pulled down by a 4.1 percent decline in gasoline prices, as well as cheaper jet fuel and liquefied petroleum gas.

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