Producer prices in the U.S. unexpectedly increased in the month of October, according to a report released by the Labor Department on Tuesday, with prices for services and food leading the way higher.
The Labor Department said its producer price index for final demand rose by 0.2 percent in October after edging down by 0.1 percent in September.
The modest increase in prices came as a surprise to economists, who had expected the index to dip by another 0.1 percent.
Excluding food and energy prices, the core producer price index climbed by 0.4 percent in October after coming in unchanged in the previous month. Core prices were expected to inch up by 0.1 percent.
The material has been provided by InstaForex Company – www.instaforex.com