MW: U.S. Nov PPI has second straight large decline
WASHINGTON (MarketWatch) - Inflation at the wholesale level decelerated sharply in November for the second straight month, the Labor Department said Friday. The producer price index fell 2.2%, driven by an 11.2% drop in energy prices. This follows a record 2.8% drop in October. Food prices were flat in November. The core PPI, excluding food and energy costs, also moderated in November. The core rate rose 0.1% in the month, down from a 0.4% gain in October and the smallest gain since March. Economists were expecting the PPI to fall 2.0% in November and the core rate was expected to remain flat.
