Producer price index up an inline 8.6% in October, core rate rises 6.8%

• October Producer Price Index: +0.6% vs. +0.6% consensus and +0.5% prior.
• +8.6% Y/Y vs. +8.6% consensus and +8.6% prior.
• One-third of the October advance in the index for final demand goods came from prices for gasoline, which rose 6.7%. The indexes for diesel fuel, fresh and dry vegetables, gas fuels, jet fuel, and plastic resins and materials also moved higher.
• Prices for beef and veal decreased 10.3%. The indexes for light motor trucks and for residential electric power also fell.
• Core PPI: +0.4% vs. +0.4% consensus and +0.2% prior.
• +6.8% Y/Y vs. +6.8% consensus and +6.8% prior.