Producer Prices Keep Climbing in November

Producer prices expanded 1.4% in November, seasonally unadjusted, climbing consecutively since reaching the most recent bottom 20 months ago, reports the U.S. Labor Department. Persistently high prices in large part continue to reflect clogged supply chains, as manufacturers scramble to keep up with unusually strong consumer demand.

The Labor Department said that its Producer Price Index (PPI) for final demand rose 9.6% for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010. The core PPI, which excludes often volatile food and energy components, climbed 7.7% from a year ago, also the highest on record.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.