U.S. producer prices increase in NovemberRate hike worries keep Wall Street under wrapCrude prices set for 10% weekly loss
NEW YORK/LONDON, Dec 9 (Reuters) – Treasury yields rose and Wall Street stocks fell on Friday after data on U.S. producer prices raised conflicting views, stirring hope of moderating inflation but also fears the Federal Reserve will need to keep interest rates higher for longer
The producer price index (PPI) for final demand rose 0.3% last month and increased 7.4% in the 12 months through November, while the PPI for October was revised up to 0.3% from 0.2% as previously reported, the U.S. Labor Department said.
Economists polled by Reuters had forecast monthly PPI climbing 0.2% and rising 7.2% year-on-year.
While the data showed inflation slowing over the last 12 months, the monthly rise fueled concerns that next week’s report on the consumer price index may indicate inflation is sticky…
