U.S. producer prices rose more than forecast in October for the biggest jump in six years on broad gains in costs for goods and services, a Labor Department report showed on Nov. 9.
The producer-price index rose 0.6% from September after a 0.2% advance and climbed 2.9% from a year earlier after a 2.6% gain.
Excluding food and energy costs, the core PPI readings were also up more than forecast, rising 2.6% from October 2017 and 0.5% from the prior month.
The figures, which measure wholesale and other selling prices at businesses, indicate that price pressures in the production pipeline are advancing steadily. Along with solid demand, the tariff war with China has raised concern that producers will face rising prices and supply-chain disruptions for materials.
The PPI report also showed the cost of goods climbed 0.6%, the biggest gain since May.
Services prices increased 0.7%, the most since January 2016.
Energy goods prices jumped 2.7% from the prior month, while food costs rose 1%.
About three-fourths of the increase reflected higher margins for wholesalers and retailers, the report showed.
By Shobhana Chandra