U.S. Producer Prices Rose 6.5% Year Over Year in October, Below Forecast

U.S. producer prices rose 6.5% over the 12 months through October, the highest annual rate since November 2022, but came in below the 6.6% forecast.

The Producer Price Index (PPI) increased 0.3% from September, below the 0.4% forecast. That monthly gain slowed from September’s 1.3% increase, while the annual rate accelerated from 6.3%. The September producer-price increase was the fastest annual pace since 2022.