A bounce in the U.S. producer prices in November beyond forecasts, while inflation is averagely easing, bolstering hopes that Fed may cool down its aggressive interest rate hikes.

The Labor Department announced today, a surge in the PPI for final demand by 0.3%. An upward revise up for October’s PPI figures in spite of the 0.2% announced earlier. On a yearly rate the PPI raised by 7

Analysts have predicted earlier on a poll conducted by Reuters an advance of 0.2% and 7.2% YOY.

Inflation is cooling down step by step due to the retreat of supply chains and demand. The prices paid by factories averagely dipped to the lowest level in 2 years and half last month.

In the 12 months through November, the core PPI advanced 4.9% after increasing 5.4% in October.

The Core PPI for a year till November, nudged up by 4.9% post earlier raise in October by 5.4%.