US producer prices rise 0.2pc in October

14th Nov 2024 12:11

(Sharecast News) - US producer prices increased in October, according to the Bureau of Labor Statistics.

Producer prices rose by 0.2% month-on-month to 145.62 points in October, advancing from an upwardly revised reading of 145.33 for September and bang in line with preliminary estimates.

On an annualised basis, PPI was up 2.4%. Excluding volatile foods, energy, and trade services, so-called core PPI prices increased 3.1% year-on-year.

Much of October's increase was driven by a 0.3% increase in final demand services prices.

Reporting by Iain Gilbert at Sharecast.com