The Labor Department reported on Friday that the producer price index, a measure of price increases prior to reaching the consumer, increased 0.6% in October. The increase comes after the index rose 0.2% during the previous month on more costly gas, food and chemicals.
The Federal Reserve ended a two-day policy meeting on Thursday with the announcement that interest rates would remain unchanged as expected by the capital markets. However, the CME Group’s Fed Watch Tool shows a 75.8% chance that a fourth and final rate hike will cap off 2018.
The Labor Department reported on Friday that the producer price index, a measure of price increases prior to reaching the consumer, increased 0.6% in October. The increase comes after the index rose 0.2% during the previous month on more costly gas, food and chemicals.
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