CHEAPER ENERGY PRODUCTS PUT LID ON MONTHLY US PRODUCER PRICES

U.S. producer prices were unexpectedly unchanged in November amid cheaper energy goods, and underlying inflation pressures at the factory gate were muted.

The Labor Department also showed services prices flat for a second straight month, bolstered optimism that overall inflation would continue to subside and allow the Federal Reserve to start cutting interest rates next year. U.S. central bank officials were wrapping up their two-day meeting on Wednesday. The Fed is expected to keep its policy rate unchanged in the current 5.25%-5.50% range, having raised it by 525 basis points since March 2022.

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