Breaking: US Producer Prices Rise by 2.4% in October, Core PPI Hits 3.1%
Breaking: US Inflation Surges 2.6% in October, Core at 3.3%
MarketAlleys Desk
Published · 1 min read
Data from the Bureau of Labor Statistics showed that the US PPI was up 2.4% year-on-year in October, higher than the consensus. The core PPI increased 3.1% annually, excluding the prices of food and energy, indicating that the inflationary pressures along the production pipeline were still there.
Headline PPI was up 0.2% month-over-month, while core PPI surged 0.3% on a month-over-month basis, with both in line with recent gain records from various industries. These reflect the existing upward pressures on the producer pricing that may carry forward into consumer price inflation.
The latest PPI data is expected to be closely watched by market participants because it contains implications for Federal Reserve policy. In a production sector where inflation signals still remain high, expectations about future rate adjustments can affect and add to the uncertainty of economic prospects.
Terms in this article
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
Inflation
The rate at which the general level of prices rises over time, reducing what money can buy.
Federal Reserve (Fed)
The US central bank, with a dual mandate of maximum employment and stable prices.
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