Producer Price Index Rises 8.6%, Matching Record Broken In September

The Department of Labor’s Producer Price Index, a key inflation metric, rose 0.6% in October, matching the record annual increase of 8.6% broken in September. “Elevated demand for goods over services again led the inflation story, with the price rises for final demand goods accounting for more than 60% of the index’s increase. Goods prices rose 1.2% compared with just a 0.2% increase for services, while construction prices jumped 6.6%,” CNBC reported. “One-third of the increase in goods prices came from soaring gasoline, with prices rising 6.7%. Beef and veal prices represented the other side of the ledger, posting a


