Wholesalers increased prices in October at the fastest rate in thre❀e months, potentially a harbinger of future consumer price increases.

The Producer Price Index (PPI) showed that wholesale inflation in October was higher by 2.4% compared with the same month last year, the fastest increase in three months, according to data from the Bureau of Labor Statistics. That’s a tick higher than the consensus forecasts compiled by Bloomberg Finance and Wells Fargo.

Higher wholesaler prices can lead to an increase in consumer prices, potentially pushing 澳洲幸运5官方开奖结果体彩网:inflation higher at a time when Federal Reserve officials are 🅘closely🌸 watching prices for signs that inflation has stalled. The data follows yesterday’s release of the Consumer Price Index (CPI), which also 澳洲幸运5官方开奖结果体彩网:showed ✃prices ticking upward in Octo🦩ber. 

Economists said it’s unclear whether the bump in inflation will derail the Federal Reserve's plans to lower interest rates, but it’s not likely to deter officials from 澳洲幸运5官方开奖结果体彩网:cutting interest rates again in December. 

“A rise in the headline♓ and core PPI indices won’t dampen percolating fears of a higher inflation environment after Wednesday’s CPI report,” said Oren Klachkin, financial markets economist at Nationwide. “PPI won’t decisively alter the Fed’s easing bias, but it makes charting the policy outlook murkier.”