US wholesale inflation rose last month, with the Producer Price Index increasing by 0.4% on a monthly basis and 3% for the 12 months ended in November. This marks an acceleration from October and is the highest annual rate since February 2023. Economists were expecting prices to increase, partly due to unfavorable comparisons to last year. The PPI serves as a potential bellwether for retail-level inflation in the months ahead, with the latest Consumer Price Index showing some stagnation in progress on reining in inflation.
Source: https://www.cnn.com/2024/12/12/economy/us-producer-price-index-ppi-inflation/index.html