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- U.S. PPI increases more than forecast in October
U.S. PPI increases more than forecast in October
The Labor
Department reported on Thursday the U.S. producer-price index (PPI) increased
0.4 percent m-o-m in October, following a decline of 0.3 percent m-o-m September.
For the 12
months through October, the PPI rose 1.1 percent after a 1.4 percent advance in
the previous month. That marked the smallest gain in PPI since October 2016.
Economists had
forecast the headline PPI would increase 0.3 percent m-o-m and 0.9 percent over
the past 12 months.
According to
the report, the October climb in final demand prices reflected a 0.3 percent
m-o-m increase in prices for final demand services and a 0.7 percent m-o-m surge
in prices for final demand goods.
Excluding
volatile prices for food and energy, the PPI advanced 0.3 percent m-o-m and 1.6
percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and
1.5 percent y-o-y, respectively.
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