U.S. Producer Prices Climb 6.5% Annually in October, Highest Since late 2022

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U.S. producer prices rose 6.5% year over year in October, the fastest pace since November 2022. That reading came in slightly below analysts' expectations of 6.6% and up from 6.3% in the prior period. On a monthly basis, producer prices increased 0.3%, short of the anticipated 0.4% gain. September's monthly figure was also revised upward, from 1.3% to 1.4%.

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