Economics
U.S. Producer Prices Climb 0.6%, Adding to Inflation Concerns
- More than 60% of advance due to goods, largely energy costs
- Annual advance in headline PPI biggest in data back to 2010
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Prices paid to U.S. producers accelerated in October, largely due to higher goods costs, fueling concerns about the persistence of inflationary pressures in the economy.
The producer price index for final demand increased 0.6% from the prior month and 8.6% from a year earlier, matching forecasts, Labor Department data showed Tuesday. The annual advance was the largest in figures back to 2010.