October PPI Report: 0.3% Monthly, 6.5% Annual, Highest Since 2022
The October PPI report put wholesale inflation at 6.5% a year, the highest since November 2022. The month itself came in a little cooler than forecast: producer prices rose 0.3% against a 0.4% consensus in the BLS release at 8:30 a.m. ET (22:30 KST) on Friday. Energy did it: final demand energy slipped 0.1% after a 10.0% jump in September, and diesel fell 7.9%. That small miss doesn’t take a December 9 Fed hike off t…