U.S. Producer Prices Unchanged in October on Weak Services

Economic IndicatorsReuters

U.S. producer prices were unexpectedly flat in October as a rise in the cost of goods was offset by declining services costs.

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The Labor Department said on Wednesday that the unchanged reading in its producer price index for final demand last month followed a 0.3 percent increase in September.

In the 12 months through October, the PPI increased 0.8 percent, the biggest gain since December 2014. That followed a 0.7 percent rise in September. Economists polled by Reuters had forecast the PPI rising 0.3 percent last month and accelerating 1.2 percent from a year ago.

(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)

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