Costs rise moderately at end of 1998

The Plant Engineering Cost Index (PECI) moved up a moderate 0.
By Staff January 1, 1999

The Plant Engineering Cost Index (PECI) moved up a moderate 0.2% during November, as continued declines in some materials prices were more than offset by increases in most labor components and by increases in a larger-than-usual number of materials categories. Labor costs had eased unexpectedly the month before, but the still-tight labor market pushed average hourly earnings higher again in the latest month. The overall Producer Price Index (PPI) fell 0.2% between October and November.