WASHINGTON—U.S. producer prices unexpectedly rose in November as increases in the costs for services offset a sharp decline for energy products, but the overall momentum in wholesale inflation appears to be slowing.
With oil prices down sharply since October, inflation at the factory gate is likely to slow further in the coming months. The report on Dec. 11 did not change expectations the U.S. Federal Reserve will raise interest rates at its Dec. 18-19 policy meeting. The central bank has hiked rates three times this year.
