Producer prices make unexpected gains in Oct
But benign inflation environment remains, with Fed in no hurry to raise short-term rates
Washington
US PRODUCER prices unexpectedly rose in October, but the underlying trend continued to point to a benign inflation environment that could persuade the Federal Reserve to keep interest rates very low a bit longer.
The Labor Department said on Tuesday its Producer Price Index (PPI) for final demand increased 0.2 per cent, driven by a jump in prices in the services sector. The PPI had declined 0.1 per cent in September.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations