Conversely, wholesale goods prices increased by just 0.1% as declines in energy and food prices offset some gains. Energy prices fell by 0.3%, and food prices dropped by 0.2%, influenced by significant reductions in liquefied petroleum gas (down 18.1%) and prices for chicken eggs and processed poultry. However, an 8.4% rise in carbon steel scrap and higher prices for meats, vegetables, and diesel fuel added inflationary pressures on goods, indicating mixed price trends within the commodities sector.
Unemployment Data Trends
Labor market indicators showed a slight decline in unemployment claims, pointing to resilient employment conditions. Initial claims for unemployment insurance fell to 217,000 in the week ending November 9, down by 4,000 from the previous week’s total. The four-week moving average dropped to 221,000, suggesting a stable labor market….
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