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US producer price index up 3.1% in 12 months to November

The U.S. producer price index rose 0.4% in November, unchanged from the previous two months, the Bureau of Labor Statistics reported.

Excluding food, energy, and trade, prices for final demand went up 0.4% in November, the largest gain since increasing 0.6% in April.

Prices for final demand services climbed 0.2% in November, after increasing 0.5% in October, while prices for final demand goods increased 1.0%, compared to a 0.3% rise in October. The 1.0% rise is the largest since a 1.0% increase in January.

On an unadjusted basis, the final demand index rose 3.1% for the 12 months ended in November, the largest increase since a 3.1% increase for the 12 months ended January 2012.

The U.S. Federal Reserve is widely expected to raise interest rates on Dec. 13.