U.S. PPI Par for Course in Nov.

U.S. wholesale prices barely rose last month, as a sharp decline in the cost of gas offset pricier freight trucking services and mobile phone plans.

Numbers released by the U.S. Labor Department said Tuesday that the producer price index — which tracks cost changes before they reach the consumer — increased 0.1% in November from the previous month, down sharply from a 0.6% gain in October. Wholesale prices rose 2.5% from a year ago, the smallest annual increase this year.

Excluding the volatile food and energy categories, wholesale prices south of the border rose 0.3% in October and 2.7% from a year earlier.

The figures suggest inflation pressures have subsided since late last year. That could affect the Federal Reserve’s deliberations on how quickly to lift short-term interest rates in 2019.