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Producer Price Index Rises 0.4%

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11/16/2010 9:00:00 AM

Prices paid to U.S. producers rose 0.4% in October, the Labor Department said Tuesday.

The increase in prices paid to factories, farmers and other producers was less than the 0.8% forecast by economists, Bloomberg reported.

The core producer price index excluding food and energy fell 0.6%, in contrast to economists’ projections of a 0.1% gain.

Food prices fell 0.1%, while energy prices rose 3.7%.

New car prices fell 3%, while light truck prices fell 4.3%, the most since October 2006.

An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.

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