Business & Economy · 2 views
Wholesale prices rose 0.3% in October, putting annual rate at 6.5%, the highest in nearly four years
Wholesale prices increased less than expected in October, but inflation pressures persisted and the Federal Reserve is likely still on target for an interest rate increase soon.
Summary
Wholesale prices increased less than expected in October, but inflation pressures persisted and the Federal Reserve is likely still on target for an interest rate increase soon. The producer price index , which measures the prices domestic producers get for their products before they reach the consumer, rose a seasonally adjusted 0.3% for the month, against the Dow Jones consensus for a 0.4% increase, the Bureau of Labor Statistics reported Friday.
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