It took awhile, but the Labor Department issued producer price index numbers Wednesday after the report was delayed by the federal government shutdown.
When they did release the numbers, it turns out wholesale prices in the U.S. went up a bit in November.
According to the numbers released by the Labor Department Wednesday, its producer price index — the process that measures inflation before it reaches consumers — rose 0.2% in November from October. That number was down from 3% from a year earlier.
Those numbers are old, having originally been expected Dec. 11 and delayed by last fall’s 43-day government shutdown. The Labor Department will put out December’s producer price index on Jan. 30; it was originally scheduled to come out Wednesday, according to a report from The Associated Press.
The report showed gasoline prices rose sharply in November. Excluding volatile food and energy prices, so-called core wholesale prices were unchanged from October and up 3% from November 2024.
According to the AP report, President Donald Trump’s taxes on imports were expected to drive inflation sharply higher, but their impact has been more modest than expected.
The Labor Department reported Tuesday that consumer price inflation cooled last month, rising a modest 0.3% from November and 2.7% from December 2024. But it remains above the Federal Reserve’s 2% target.
