Wholesale prices rose 0.3% in October, putting annual rate at 6.5%, the highest in nearly four years

The producer price index was expected to increase 0.4% in October, according to the Dow Jones consensus.

Wholesale prices rose 0.3% in October, putting annual rate at 6.5%, the highest in nearly four years

TL;DR

  • The producer price index (PPI) rose 0.3% in October, below the 0.4% expected.
  • The annual PPI rate increased to 6.5%, the highest since November 2022.
  • Core PPI, excluding food and energy, also rose 0.3%, meeting expectations.
  • Consumer price index (CPI) data released earlier showed higher-than-expected inflation.
  • The Federal Reserve is expected to raise interest rates soon, with markets pricing in a quarter-point hike.
  • Concerns are rising that inflation, fueled by factors like the Iran war, higher fuel prices, and tariffs, is spreading throughout the economy.
  • Goods prices increased by 0.5% in October, with the annual goods index jumping 10.2%.
  • Final demand services prices rose 0.2%, driven by transportation and warehousing.

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