November Sees Unexpected Surge in US Wholesale Prices Driven by Egg Costs
Wholesale prices increased by 0.4% in November, driven largely by a significant rise in food costs, particularly chicken eggs, which surged by 55%. This marks the largest monthly gain since the summer and a 3% increase over the past year. While some components of the Producer Price Index, such as portfolio management fees and hospital care, saw slower price gains, economists expect the upcoming Personal Consumption Expenditures Price Index to show a modest rise, indicating a potential slowdown in core inflation. However, concerns about future inflation persist.