Wholesale prices surged by 0.4% in November, marking a 3% increase year-over-year, indicating persistent inflationary pressures despite the decline from previous highs.
Core producer prices, excluding food and energy, rose by 0.2% from October and 3.4% from a year ago, showing resilience in underlying inflation despite falling consumer prices.
While consumer inflation has softened significantly since its peaks, it remains above the Federal Reserve's 2% target, raising concerns about lasting inflationary pressures in the economy.
Despite rising wholesale prices, the Federal Reserve remains on track to cut benchmark interest rates for the third consecutive time, reflecting changes in inflation dynamics.
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