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Wholesale Prices in U.S. Unexpectedly Increased in October
Wholesale prices unexpectedly increased in October as higher costs for services and food outweighed a slump in energy. The 0.2 percent advance in the producer-price index followed a 0.1 percent drop the prior month, a Labor Department report showed today in Washington. The median estimate in a Bloomberg survey called for a 0.1 percent decline. The October increase reflected the biggest gain in services costs since July 2013. Even with last month’s pickup, wholesale prices over the last year were up 1.5 percent, the smallest gain since February and a sign that slowdowns in global markets are reducing demand for raw ... (full story)