US: Headline Producer Prices rose by 2.4% YoY in October

The Bureau of Labor Statistics (BLS) reported a 2.4% increase in the headline Producer Price Index (PPI) in October, surpassing expectations. Meanwhile, the Producer Price Index excluding Food and Energy gained by 3.1% YoY.

On a monthly basis, the headline PPI rose by 0.2% vs. a month earlier and 0.3% when stripping Food and Energy costs.