Rising food prices to blame for Producer Price Index increase

Wholesale prices increased at a faster rate in November, signaling that inflation may not be cooling as expected.

The Producer Price Index rose 0.4%, the biggest monthly gain since summer, and was up 3% year-over-year, the largest increase since February 2023.

Food prices, particularly chicken eggs, which saw a 55% rise, contributed significantly to the increase.

However, some key components, like portfolio management fees and hospital care, experienced slower price growth, Axios has reported.

read more: https://www.axios.com/2024/12/12/ppi-inflation-report-eggs

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