US PPI Hits 3% Year-Over-Year, Sparks Concerns Over Fed’s Hawkish Move

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According to the latest data, the US PPI rose 3% from the year prior, up from the 2.4% in October, and above the 2.6% increase economists had projected. This marked the highest year-over-year increase since February 2023. Thursday’s PPI reading comes one day after the release of the November CPI index showed core inflation rose 3.3% for the fourth-straight month. The hotter-than-anticipated figure has also sparked concerns over a potential hawkish move by the Fed in the next week. Also, Still inflation is not quickly falling toward the Fed’s 2% target which has prompted investors to anticipate fewer Fed rate cuts in 2025 than initially expected.