Partly reflecting a jump in prices for trade services, the Labor Department released a report on Friday showing a much bigger than expected increase in U.S. producer prices in the month of October.
The Labor Department said its producer price index for final demand climbed by 0.6 percent in October after rising by 0.2 percent in September. Economists had been expecting another 0.2 percent uptick.
Excluding food and energy prices, core producer prices still rose by 0.5 percent in October after edging up by 0.2 percent in September. Core prices had been expected to rise by another 0.2 percent.
The material has been provided by InstaForex Company -
www.instaforex.com