Wholesale costs in the United States picked up sharply last month, signaling that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit more than two years ago.

A report on prices paid by businesses adds to the data showing inflation is not coming down as fast as had been anticipated.

The US Labor Department has said that its producer price index - which tracks inflation before it reaches consumers - rose 0.4% last month from October, up from 0.3% the month before