Led by steep 1.6% gains in both energy and food, the Producer Price Index increased a modest 0.3% in October, the third increase in five months. Food and energy have been fairly volatile in recent months and have had a major impact on the headline figure.
The core rate, which removes the two categories, fell a steep 0.6% last month amid lower prices for light motor trucks and passenger cars, which fell 5.2% and 0.5%, respectively.
Inflation at the wholesale level remains benign, though the best news is behind us.
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