The producer price index (PPI)—a gauge of prices paid by businesses for goods and services at the wholesale level in the United States—rose to a three-month high in October, revealing persistent price pressures in pockets of the U.S. economy.
According to the Bureau of Labor Statistics, the PPI increased to 2.4 percent year over year, up from 1.9 percent in September. Markets estimated a reading of 2.3 percent.
