October wholesale prices rose 0.3%, hitting a nearly four-year annual high of 6.5%
Summary
The producer price index, a measure of wholesale prices rose 0.3% in October, slightly less than the 0.4% forecast. On an annual basis, PPI surged 6.5%, the biggest increase since November 2022.
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Wholesale prices rose 0.3% in October, putting annual rate at 6.5%, the highest in nearly four years
The producer price index was expected to increase 0.4% in October, according to the Dow Jones consensus.
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Producer prices rose to 6.5% in October
Inflation, as measured by the producer price index, rose two-tenths of a percentage point to 6.5% for the year ending in October, the Bureau of Labor Statistics reported Friday. Economists have been closely watching PPI reports and other inflation data amid the war with Iran...
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