Producer prices in the U.S. increased by more than expected in the month of October, according to a report released by the Labor Department on Tuesday.
The Labor Department said its producer price index for final demand climbed by 0.4 percent in October, matching the increase seen in September. Economists had expected prices to inch up by 0.1 percent.
Excluding food and energy prices, core producer prices also rose by 0.4 percent in October after a matching increase in the previous month. Core prices had been expected to rise by 0.2 percent.