US Producer Prices Rise Moderately in October, But Inflation Broadens Out

US producer prices increased moderately in October, but factory-gate inflation recorded its largest annual gain in four years, supporting the view that the Federal Reserve may continue raising interest rates after next month's expected hike. Food prices saw their biggest increase in eight months due to higher diesel costs, and prices of goods excluding food and energy also saw a significant rise, indicating that inflation is broadening beyond just energy.