Prices paid to U.S. producers dipped for a third consecutive month, declining 0.1% in November, the Labor Department reported Dec. 13.
Last month’s producer price index reading followed a dip of 0.2% in October. Economists had forecast no change, Bloomberg News reported.
The so-called core PPI, which excludes food and energy, increased 0.1%, matching economists’ predictions.
“Inflation pressures are clearly subdued,” Sean Incremona, an economist at 4Cast Inc., told Bloomberg. “We are seeing emerging signs of growth globally and more optimism, so there’s hope that we could see firming in the underlying rate” within the next year.
Compared with the same month last year, companies paid 0.7% more for goods.
An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, the economy could be hurt.