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A report released by the Labor Department on Wednesday showed a modest increase by U.S. producer prices in the month of November.
The Labor Department said its producer price index for final demand rose by 0.2 percent in November after inching up by 0.1 percent in October. The uptick in prices matched economist estimates.
Meanwhile, the report said the annual rate of growth by producer prices accelerated to 3.0 percent in November from 2.8 percent in October. Economists had expected annual producer price growth to come in at 2.7 percent.
