Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday.
On a 12-month basis, headline wholesale inflation was at 2.4%.
Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations.
Services rose 0.3% on the month, accounting for most of the PPI increase, and was driven largely by a 3.6% surge in portfolio management prices.
Goods prices nudged higher by 0.1% after falling the previous two months.
Persons:
Dow
Organizations:
Federal Reserve, of Labor Statistics, PPI, Traders, Labor Department