WASHINGTON - The producer price index rose 0.3% in November on a seasonally adjusted basis, the Labor Department reported Thursday.
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The gain followed a 0.3% drop in the index for October.
Core producer prices, excluding food and energy, rose 0.1% after a flat reading in October.
The November gain was higher than the 0.2% rise projected by economists polled by Thomson Reuters, but the core price index increase was lower than their median 0.2% estimated gain.
The increase in the November PPI was led by prices in foods, which were up 1.0%.
Energy prices rose by 0.1%.
Year-over-year the overall PPI was up 5.7%. Core year-over-year producer prices were up 2.9%.
