U.S. Producer Prices Post a 6.5% Annual Gain, Fastest Since 2022

U.S. producer prices rose 6.5% over the year through October, the largest 12-month increase since November 2022, keeping inflation and Federal Reserve rate expectations in focus for crypto markets.

Final-demand PPI, seasonally adjusted, rose 0.3% in October, below a 0.4% market estimate and slowing from a revised 1.4% increase in September. The annual figure is not seasonally adjusted and climbed from 6.3% in September.

Core final-demand PPI, which excludes food, energy and trade services, rose 0.5% for a second straight month. Its 12-month increase reached 4.9%. Final-demand goods prices advanced 0.5%, while services rose 0.2%.

Transportation and warehousing services rose 2.0%, with truck freight up 3.9%. A 0.2% decline in trade-service margins partly offset gains in services. Intermediate-demand unprocessed goods fell 3.1% as crude oil prices dropped 10.3%.

October’s producer-price data followed a 0.4% monthly increase in consumer prices. Together, the readings keep the inflation path in view as markets assess the Fed’s policy outlook.