US producer prices picked up in October, fueled in part by gains in portfolio management costs and other categories that feed into the Federal Reserve’s preferred inflation gauge.The producer price index for final demand increased 0.

U.S. producer prices picked up in October, lifted by higher costs for services like portfolio management and hospital outpatient care, further evidence that progress toward lower inflation was stalling.

M/M vs. +0.2% consensus and 0.1% in September (revised from 0.0%). +2.4% Y/Y vs. +2.3% consensus and +1.9% prior (revised from +1.8%). Core PPI: +0.3% M/M vs. +0.3% expected and +0.2% in September. +3.