Tuesday, December 19, 2006

Forex News: 19.12.2006 U.S. November PPI rises 2.0%

Producer prices rose much more than expected in November, as the core producer price index rose by the most since July 1980.

The November producer price index climbed by 2%, the biggest rise since November 1974, data show.

The core PPI, which excludes food and energy prices, rose 1.3%. Much of the gain in the headline producer price number was in energy prices, which rose by 6.1%.

Economists were expecting the PPI to rise by 0.7%. They also forecast a 0.3% rise in the core PPI.

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