U.S. wholesale inflation were unexpectedly flat in October as a rise in the cost of goods was offset by declining services costs.
Figures released Wednesday by the U.S. Labor Department revealed that the unchanged reading in its producer price index for final demand last month followed a 0.3% increase in September.
In the 12 months through October, the PPI increased 0.8%, the biggest gain since December 2014. That followed a 0.7% rise in September. Economists had forecast the PPI rising 0.3% last month and accelerating 1.2% from a year ago.
