United States Producer Price Inflation MoM

Factory gate prices in the US increased 0.2% mom in October 2024, following an upwardly revised 0.1% rise in September and matching expectations. Prices of services went up 0.3% (vs 0.2% in September), with over one-third due to prices for portfolio management (3.6%). Cost also increased for machinery and vehicle wholesaling; airline passenger services; computer hardware, software, and supplies retailing; outpatient care; and cable and satellite subscriber services. Prices of goods inched up 0.1%, following two consecutive decreases, led by an 8.4% increase in carbon steel scrap while prices also moved higher for meats, diesel fuel, fresh and dry vegetables, and oilseeds. Year-on-year, the PPI increased 2.4%, compared to an upwardly revised 1.9% rise in September and above forecasts of 2.3%. The core PPI went up 0.3% on the month, above 0.2% in the previous month and matching forecasts. The annual core rate accelerated to 3.1% from an upwardly revised 2.9% and above expectations of 3%.