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11/9, 2:30 PM (Source: TeleTrader.com)
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US producer prices rise 0.6% in October

The Producer Price Index (PPI) for final demand in the United States increased 0.6% in October compared to the previous month on a seasonally adjusted basis and in line with expectations, the US Bureau of Labor Statistics said on Friday. On an unadjusted basis, the final demand index jumped 2.9% for the 12 months ending last month.

The rise in the final demand index was led by a 0.7% increase in prices for final demand services. Final demand goods prices were up by 0.6% with energy prices surging 2.7%, while food prices increased 1%.

The index for final demand excluding foods, energy and trade services was up 0.2% in October month on month and grew by 2.8% compared to a year ago.

Breaking the News / NP