Investing.com - Producer price inflation in the U.S. fell in line with expectations in October, while core prices inched up modestly, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that producer prices declined by a seasonally adjusted 0.2% in October, matching forecasts, after falling 0.1% in September.
Year-over-year, the producer price index rose at an annualized rate of 0.3% last month, in line with expectations, and unchanged from the preceding month.
The core producer price index eased up 0.2% in October, above expectations for a 0.1% increase, after rising 0.1% in September.
Core produces prices rose at an annualized rate of 1.4% last month, compared to forecasts for a 1.3% gain and after climbing 1.2% in September.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.15% to trade at 1.3460.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.4%, S&P 500 futures indicated a rise of 0.3%, while the Nasdaq 100 futures signaled an increase of 0.4%.
In a report, the Bureau of Labor Statistics said that producer prices declined by a seasonally adjusted 0.2% in October, matching forecasts, after falling 0.1% in September.
Year-over-year, the producer price index rose at an annualized rate of 0.3% last month, in line with expectations, and unchanged from the preceding month.
The core producer price index eased up 0.2% in October, above expectations for a 0.1% increase, after rising 0.1% in September.
Core produces prices rose at an annualized rate of 1.4% last month, compared to forecasts for a 1.3% gain and after climbing 1.2% in September.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.15% to trade at 1.3460.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.4%, S&P 500 futures indicated a rise of 0.3%, while the Nasdaq 100 futures signaled an increase of 0.4%.