11/15/2022, 2:30 PM (Source: TeleTrader)
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US producer prices grow by 0.2% in October

Producer prices in the United States increased by 0.2% in October compared to September, the Bureau of Labor Statistics said in a report on Tuesday. Compared to October 2021, the Producer Price Index (PPI) rose by 8%. Both figures were lower than expected, with forecasts putting them at 0.4% and 8.3% respectively.

The PPI for goods grew by 0.6%, while the index for services fell by 0.1%. Producer prices less foods, energy, and trade services were up by 0.2% on a monthly basis and 5.4% annually.

Baha Breaking News (BBN) / DJ