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U.S. Supplier Price Increases Eased in October, Taking Pressure Off Inflation
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U.S. supplier price increases slowed in October for the second straight month, adding to signs that inflation pressures could be abating.
The producer-price index, which generally reflects supply conditions in the economy, climbed 8% in October compared with the same month a year ago, the Labor Department said Tuesday. Though prices continued to rise rapidly, the pace marked an easing from September’s revised 8.4% increase, and was down sharply from the 11.7% increase in March, the highest since records began in 2010.
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