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US wholesale inflation heated up again last month, reversing recent progress
US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.2% on a monthly basis and 2.4% for the 12 months ended in October, marking an acceleration from September, when prices ticked up 0.1% for the month and grew 1.9% annually, according to Bureau of Labor Statistics data released Thursday. Economists were expecting prices to increase, in large part due to comparisons to this time last year (base effects), when wholesale inflation ... (full story)