November Producer Prices Accelerate as Goods Wholesale Costs Rebound, Delayed Data Show

02:46 PM EST, 01/14/2026 (MT Newswires) -- US producer price growth accelerated sequentially in November as the goods index turned positive, delayed official data showed Wednesday.

The producer price index rose by 0.2% on a seasonally adjusted basis in November, after a 0.1% increase in October, according to the Bureau of Labor Statistics. The latest print matched the projected gain in a survey compiled by Bloomberg.

Wholesale prices of goods advanced 0.9% in November, rebounding from a 0.4% drop in October. More than 80% of the November increase is attributable to final demand energy, which jumped 4.6%.

The services index was unchanged month on month.

Annually, wholesale cost growth accelerated to 3% in November from 2.8% the month prior. The consensus was for a 2.7% increase.

The PPI report, which was delayed by the recent US federal government shutdown, follows Tuesday's data showing that consumer inflation held steady year over year last month, while core prices grew less than projected.

Those reports are "keeping the outlook for inflation unclear as policy makers continue to parse through delayed and incomplete data," according to Stifel Chief Economist Lindsey Piegza.

"For now, neither the CPI nor the PPI report should be enough to move the needle in one direction or the other or dissuade the (Federal Reserve) from its current position on the sidelines," Piegza said in a report e-mailed to MT Newswires.

Markets widely expect the central bank to hold its benchmark lending rate steady later this month, according to the CME FedWatch tool, following three consecutive 25-basis-point rate cuts.

"A more benign pace of price pressures -- if sustained -- affords the Fed additional flexibility to provide further accommodation if warranted in the future by a more definitive deterioration in labor market conditions," Piegza said.

On Tuesday, President Donald Trump called on Fed Chair Jerome Powell to cut interest rates "meaningfully" following the CPI report.

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