Producer Price Index: Wholesale Inflation Falls to 1.3% in October
Wholesale inflation rose less than expected in October as producer price growth slowed for the first time in four months. Here is the latest news release from the Bureau of Labor Statistics.
The producer price index for final demand was down 0.5% month-over-month, lower than the expected 0.1% increase. On a non-seasonally adjusted basis, this month's headline PPI decelerated to 1.3% year-over-year, down from last month's 2.2% yearly increase and below the forecast of 1.9%.
Core PPI (excluding food and energy) for final demand was unchanged from last month, lower than the expected 0.3% increase. On a non-seasonally adjusted basis, core PPI decelerated to 2.4% year-over-year from last month's 2.7% yearly increase and was below the forecast of 2.7%. This is the lowest level for core PPI since August 2020.
Below is a chart of the historical series with a callout to the most recent 12 months.