Wholesale prices rise again, PPI shows, due to stubborn pockets of inflation [View all]
Source: MarketWatch
Published: Nov. 14, 2024 at 8:34 a.m. ET
The numbers: U.S. wholesale prices rose a bit faster in October and suggested the battle by the Federal Reserve to reduce inflation to low prepandemic levels may last awhile.
The producer price index increased 0.2% last month, the government said. Wholesale prices also rose a bit faster in September than previously estimated.
The increase in wholesale prices in the 12 months ended in October climbed to 2.4% from 1.9% and matched the highest level in four months.
So-called core wholesale prices that omit food and energy — viewed as a better predictor of future inflation — rose a sharper 0.3% last month. The 12-month rate moved up to 3.5% from 3.3%.
Read more: https://www.marketwatch.com/story/wholesale-prices-pick-up-and-show-inflation-still-a-bit-elevated-855f2ca9
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PPI for final demand rises 0.2% in October; services increase 0.3%, goods advance 0.1% https://bls.gov/news.release/ppi.nr0.htm
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8:32 AM · Nov 14, 2024
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