Higher Services Costs Lift US Producer Inflation in October
U.S. producer prices picked up in October, lifted by higher costs for services like portfolio management and airline fares, more evidence that progress towards lower inflation was stalling.
The report from the Labor Department on Thursday followed on the heels of news on Wednesday that consumer inflation had barely budged last month. The data did not change views the Federal Reserve would deliver a third interest rate cut next month, but left economists expecting firmer readings in the personal consumption expenditures (PCE) price indexes in October...
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