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.

Headline and core Producer Price Index both rose in line with economists' consensus in October, picking up from their paces in September, according to data released by the U.S. Bureau of Labor Statistics on Thursday.