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- U.S. PPI rises slightly more than forecast in October
U.S. PPI rises slightly more than forecast in October
The Labor
Department reported on Friday the U.S. producer-price index (PPI) rose 0.3
percent m-o-m in October, following an unrevised 0.4 percent m-o-m gain in September.
For the 12
months through October, the PPI increased 0.5 percent after an unrevised 0.4
percent advance in the previous month. That was the largest advance since the
12 months ended in February.
Economists had
forecast the headline PPI would increase 0.2 percent m-o-m last month and 0.4
percent over the past 12 months.
According to
the report, nearly 60 percent of the October increase in the final demand index
can be traced to a 0.5-percent m-o-m gain in prices for final demand goods. Meanwhile,
the index for final demand services rose 0.2 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI edged up 0.1 percent m-o-m and jumped
1.1 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m
and 1.2 percent y-o-y.
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