US PPI remains flat amid falling energy prices

The US Producer Price Index (PPI) remained unchanged on a monthly basis in November, but increased by 0.9 percent annually, below expectations. The US Department of Labor announced the PPI data for November. Accordingly, the PPI did not change compared to the previous month due to the decline in energy prices in November. Market expectations were for producer inflation to remain unchanged at 0.0 percent on a monthly basis. The PPI had decreased by 0.4 percent on a monthly basis in October. Producer prices increased by 0.9 percent annually in November. Producer inflation, which was below market expectations, was expected to be 1 percent annually in November. The PPI had increased by 1.2 percent annually in October. The core PPI, which excludes variable food and energy prices, also remained unchanged on a monthly basis in November, but increased by 2 percent annually, its lowest increase since January 2021. Core PPI, which came in below expectations, was expected to increase by 0.2 percent on a monthly basis and 2.2 percent on an annual basis.