Energy costs are rising, and wholesale inflation in the United States has increased slightly.

Wholesale inflation in the United States saw a slight increase in November compared to the previous month, mainly driven by rising energy costs while service prices remained unchanged. According to data from the US Bureau of Labor Statistics, the Producer Price Index (PPI) rose by 0.2% in November. This report included the first estimate data for wholesale prices in October, but was delayed due to the 43-day federal government shutdown. On a year-on-year basis, overall PPI increased by 3%. The core PPI, which excludes food and energy, remained flat on a monthly basis and also increased by 3% year-on-year. Earlier reports released on Tuesday showed that the core Consumer Price Index (CPI) in December was lower than expected, indicating a cooling trend in price increases. The latest PPI data further shows that businesses are still somewhat restrained in passing on higher import tariffs and other costs to consumers, fearing that excessive price hikes will dampen sales.