US Producer Prices Rise in October
US producer prices rose moderately in October while annual factory gate inflation posted its largest gain in four years. The data suggests broad price pressures may prompt the Federal Reserve to continue raising interest rates.
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United States producer prices rose 0.3% in October as factory-gate inflation posted its largest annual gain in four years. The Labor Department report follows a stronger-than-expected increase in consumer prices reported earlier in the week. The data supports expectations that the Federal Reserve could continue raising interest rates following a widely expected hike.
