WASHINGTON (Reuters) – Producer prices in the United States rose solidly in October, indicating that high inflation in the country could persist for a while amid bottlenecks in supply chains related to the pandemic.
The producer price index for final demand rose 0.6% last month, after rising 0.5% in September, the US Department of Labor said on Tuesday. In the 12-month period through October, the index jumped 8.6%, after a similar gain in September.
Economists polled by Reuters had predicted that producer prices would advance by 0.6% month-on-month and 8.7% year-on-year.
(By Lucia Mutikani)
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