CNN —
US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level.
The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.2% on a monthly basis and 2.4% for the 12 months ended in October, marking an acceleration from September, when prices ticked up 0.1% for the month and grew 1.9% annually, according to Bureau of Labor Statistics data released Thursday.
Economists were expecting prices to increase, in large part due to comparisons to this time last
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