WASHINGTON (Reuters) - U.S. producer prices rose more than expected in November amid a surge in the cost of food, but a moderation in the prices of services offered hope that the disinflationary trend remains in place.

The producer price index for final demand jumped 0.4% last month after an upwardly revised 0.3% increase in October, the Labor Department's Bureau of Labor Statistics said on Thursday.

Economists polled by Reuters had forecast the PPI gaining 0.2% following a previously reported 0.2% rise in October.

In the 12 months through November, the PPI shot up 3.0% after increasing 2.6% in October.

The government reported on Wednesday that consumer prices increased by the most in seven months in November, while a measure of underlying price pressures continued to run warmer over the past four months. Nonetheless, the Federal Reserve was still expected to deliver a third consecutive interest rate cut next week to support a labor market that has been cooling.

Wholesale goods prices surged 0.7% last month, accounting for nearly 60% of the broad-based rise in the PPI, after edging up 0.1% in October. Food prices soared 3.1%, making up 80% of the increase in goods prices.

Wholesale egg prices vaulted 54.6% amid an avian flu outbreak. Prices for fresh and dry vegetables, fresh fruits and melons also rose. Wholesale energy prices gained 0.2%. Excluding the volatile food and energy components, goods prices rose 0.2%, advancing by the same margin for five straight months.

Services prices rose 0.2% after climbing 0.3% in October. Portfolio management fees fell 0.6% after increasing 3.1% in October. Airline passenger fares decreased 2.1% while the cost of hotel and motel rooms also declined.

Portfolio management fees, healthcare, hotel and motel accommodation and airline fares are among components that go into the calculation of the personal consumption expenditures (PCE) price index, excluding food and energy.

The so-called core PCE inflation is one of the measures tracked by the U.S. central bank for monetary policy.

The Fed kicked off its monetary policy easing cycle in September. Its benchmark overnight interest rate is now in the 4.50%-4.75% range, having been hiked by 5.25 percentage points between March 2022 and July 2023 to tame inflation.

The narrower measure of PPI, which strips out food, energy and trade, edged up 0.1% after rising 0.3% in October. The so-called core PPI increased 3.5% year-on-year after a similar gain in October.