CNN —
US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers.
The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.4% on a monthly basis and 3% for the 12 months ended in November, marking an acceleration from October, when prices increased 0.3% and 2.6%, respectively, according to Bureau of Labor Statistics data released Thursday.
October’s monthly and annual rates were both revised higher from their initial estimates.
Still,
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