US producer prices climb at fastest annual pace since November 2022
US producer prices rose 0.3% in October from September and 6.5% from a year earlier, the largest annual gain since November 2022, Reuters reports.
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what happened
The Producer Price Index for final demand in the US rose 0.3% in October, the Bureau of Labor Statistics said, according to Reuters. Economists polled by Reuters had expected a 0.4% gain. September's reading was revised up to 1.4% from the previously reported 1.3%.
On an annual basis, producer prices jumped 6.5%, the strongest pace since November 2022. Goods prices were pushed higher mainly by food and basic organic chemicals, while services rose 0.2% and have now increased for five consecutive months.
The report came after a stronger-than-expected rise in consumer prices in October. A solid jobs report, in which the unemployment rate fell to 4.1%, has also fueled inflation concerns. The Fed's benchmark rate currently sits in a 3.75%-4.00% range.
why it matters
The data matters for markets because inflation is spreading beyond energy: expensive diesel is raising freight costs, and core goods prices posted their biggest gain since May. Traders are weighing whether the Fed raises rates again in December or moves more cautiously, so readings like this feed directly into Treasury yields and the dollar.
market impact
Fed rates and US Treasury yields: the data strengthens expectations of further policy tightening
tags
instruments
sources
- US producer prices rise further in October — Reuters, 13 November 2026 at 13:38 UTC
- US producer prices rise moderately in October, but inflation broadens out — Reuters, 13 November 2026 at 15:30 UTC
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