US market's producer price rise

US producer prices rose more than expected in November, led by a big increase in the cost of petrol, official figures have shown. The Labor Department's Producer Price Index increased 1.8 % from October, on a seasonally adjusted basis, the biggest rise in three months. The cost of petrol increased by 14 % on the back of higher crude oil prices. The data will increase inflation concerns, but US interest rates are expected to remain on hold this week. Officials at the Federal Reserve, the US central bank, are due to make their latest rates decision on Wednesday, and are widely expected to keep rates on hold at between 0 % and 0.25 %. They have been at this level since December of last year, and the Fed said last month that it would keep rates at this historic low for an " extended period" to aid the continuing US economic recovery. Core US producer prices - which excludes the volatile cost of food and energy - also rose by more than expected last month. They grew 0.5 %, compared with market expectations of a more modest 0.2 % increase.