US producer prices are on the increase
US producer prices increased 0.2 per cent in September, in line with expectations, while a revision to wholesale inventory estimates for August showed the biggest jump in nearly five years, beating forecasts.
A rise in services prices offset a slight drop in prices for goods, including a 3.5 per cent drop in gasoline prices. Final demand prices had fallen 0.1 per cent in August. In the 12 months through September, the producer price index rose 2.6 per cent, slightly less than expected. It was the first monthly rise in the producer price index since June.