US Wholesale Prices Rise 0.3% in October as Annual PPI Hits 6.5%
Updated
Updated · CNBC · Nov 13
US Wholesale Prices Rise 0.3% in October as Annual PPI Hits 6.5%
3 articles · Updated · CNBC · Nov 13
Summary
October producer prices rose 0.3%, below the 0.4% estimate, but the annual PPI rate accelerated to 6.5%—its highest since November 2022.
Core PPI, excluding food and energy, also increased 0.3%, while a narrower measure excluding food, energy and trade services climbed 0.5%, signaling broadening price pressure.
Goods prices rose 0.5% on the month and 10.2% from a year earlier, the strongest annual gain since October 2022; services prices increased 0.2%, led by transportation and warehousing.
Fed officials and investors still see a December rate hike as likely after this week's hotter-than-expected CPI report, with markets fully pricing a quarter-point move and assigning some odds to a half-point increase.
Policymakers say inflation tied to the Iran war, fuel costs and Trump's tariffs is spreading beyond those categories, raising concern that price gains are becoming more entrenched.