WASHINGTON—U.S. producer prices barely rose in November, supporting views that inflation would remain benign in the near term as a flare-up in new COVID-19 infections restrains the labor market and demand for services.
While other data on Dec. 11 showed a surprise improvement in consumer sentiment early in December, that is unlikely to translate into robust consumer spending, given business restrictions related to the coronavirus outbreak and the accompanying job losses. Millions of unemployed Americans are set to lose their government-funded benefits on Dec. 26, with Congress struggling to agree on another pandemic relief package.
