U.S. Economic Reports: Inflation Surges and Jobless Claims Rise in November
852+ Words Refined into 7 Facts by AI • 4 sources • 2h ago
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- US wholesale inflation increased significantly in November, with the Producer Price Index (PPI) rising by 0.4% monthly and 3% annually.
- The PPI's annual rate is now at its highest since February 2023, indicating potential price pressures ahead.
- Food prices overall rose by 3.1% last month, contributing significantly to the overall index increase.
- The core PPI increased by 0.2% for the month, aligning with expectations.
- U.S. applications for unemployment benefits rose by 17,000 to 242,000, marking the highest level in two months.
- Despite increases in jobless claims, U.S. job openings rebounded to 7.7 million in October.
- In November, U.S. employers added 227,000 jobs, a significant rebound from October.
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