![Wholesale inflation remained unchanged in November, the PPI shows](https://image.cnbcfm.com/api/v1/image/107347002-17024759421702475939-32435293354-1080pnbcnews.jpg?v=1702475941&w=750&h=422&vtcrop=y)
Wholesale prices were flat in November, a leading indicator that inflation is easing, the Labor Department said Wednesday.
The producer price index, which measures a wide range of prices for end-demand products, was unchanged this month, after falling 0.4% in October, but less than the Dow Jones estimate of a 0.1% gain. On an annual basis, total PPI accelerated by just 0.9%, after peaking above 11.5% in March 2022.
Excluding food and energy, the index was also unchanged, while an increase of 0.2% was expected. Excluding food, energy and trading services, the PPI rose 0.1%, a sixth consecutive increase and good for a twelve-month gain of 2.5%.
The release comes a day after the Ministry of Labor said the consumer price index rose just 0.1% in November and 3.1% from a year ago. The PPI measures the prices producers receive for what they produce, while the CPI measures what consumers pay and is considered a leading signal for prices in the pipeline.
Together, the easing inflation data, along with other economic signals, are likely to give the Federal Reserve plenty of room to keep interest rates steady when the policy meeting concludes on Wednesday.
At the wholesale level, the indices for both goods and services remained unchanged, although there were some large fluctuations within the components.
For example, gasoline fell 4.1%, while chicken eggs rose 58.8%. The final energy demand index fell 1.2%, offsetting increases of 0.6% for food and 0.2% for goods minus food and energy.