Producer prices jump 1.8% in November on energy prices

Producer prices unexpectedly surged 1.8% in November, the U.S. Labor Department announced Tuesday, as a jump in energy prices pushed the wholesale index higher. Further, excluding the often-volatile food and energy component, "core" producer prices rose 0.5%.

A Bloomberg News economists survey had expected producer prices to increase 1% in November after rising 0.3% in October and falling 0.6% in September. Economists also had expected the core rate to tick up 0.2% in November after slipping 0.6% in October and 0.1% in September.