Wholesale prices nudged higher in October, though largely in line with expectations and consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported on Friday.
The producer price index, which measures what producers get for their products, rose 0.2% for the month, up a tenth of a percentage point from September but in line with the Dow Jones consensus forecast. On a 12-month basis, headline wholesale inflation was at 2.4%.
Excluding food and energy, core PPI rose 0.3%, also a tenth more than in September and also in line with expectations. The 12-month rate is at 3.1%.
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