WASHINGTON - Producer prices jumped 0.8% in November, led by a 2.1% increase in energy goods prices, while core prices, which exclude food and energy, increased 0.3% on rising prices for new autos, the Labor Department reported Tuesday.
Economists expected producer prices would rise 0.6% and core prices would increase 0.2%, according to the median estimate from Thomson Reuters.
The 0.8% November gain followed an unrevised 0.4% increase in October. For the year ending in November, producer prices increased 3.5% and core prices rose 1.2%.
Energy goods prices' 2.1% November increase came as home heating oil prices rose 7.0%, diesel fuel prices rose 4.8% and gasoline prices rose 4.7%. However, residential natural gas prices declined 2.2%.
Meanwhile, finished consumer foods saw some of the biggest price increases. Prices for fresh eggs spiked 22.7% while fresh fruits and melons prices increased 13.6%, including a 123.8% spike for strawberries and a 69.8% increase for cantaloupes.
Passenger cars prices rose 1.7% and prices for light motor trucks rose 0.3%. And prices for motor homes built on purchased chases rose 1.4%, the largest gain since a 1.5% increase in March.
