October Producer Price Index Falls Below Expectations, Signs of Widespread Inflation
- 1The U.S. Bureau of Labor Statistics reported a 0.3% monthly increase in the seasonally adjusted Producer Price Index (PPI) for October.
- 2The annual headline PPI rose 6.5%, marking its highest level since November 2022.
- 3Chicago Fed President Austan Goolsbee said inflation is widespread and showing signs of being a problem.
So what's the key point?
The cost of making goods rose more than experts expected. Because prices are rising across the board, the economic situation has become more difficult.
Source CNBC · View original ↗
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