Producer Prices Jump 3.2% in November

Prices paid to U.S. producers jumped 3.2% in November — the fastest pace in 34 years, the Labor Department said Thursday.

The producer price index — which was twice that forecast by economists — was led by rising fuel costs, Bloomberg reported.

It followed to 0.1% uptick in October. The so-called core PPI, excluding food and energy, rose 0.4% following no change.

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, it could also hurt the economy.