A report released by the Labor Department on Tuesday showed U.S. producer prices increased by slightly more than anticipated in the month of October.
The Labor Department said its producer price index for final demand advanced by 0.6 percent in October after climbing by 0.5 percent in September. Economists had expected another 0.5 percent increase.
The slightly stronger than expected producer price growth was partly due to a continued surge in energy prices, which spiked by 4.8 percent in October after jumping by 2.8 percent in September.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.