Mubasher: US producer prices (PPI) for final demand rose in October, having dropped in September, official data showed on Thursday.

The seasonally adjusted US producer prices (PPI), which gauges inflation before it reaches consumers, rose by 0.4% last October, after falling by 0.3% in the previous month, the US Bureau of Labor Statistics (BLS) said.

The increase was led by gains of 0.7% and 0.3% in the wholesale costs of goods and services, respectively.

On an unadjusted basis, wholesale prices rose by 1.1% over the 12-month period ended last October. This marked the smallest 12-month rise since October 2016.

Stripping out volatile food, energy products and trade services, the PPI for final demand inched up by 0.1%, after recording no change in the prior month, while the so-called core PPI rose by 1.5% year-on-year.

By 1:27 pm GMT, the US dollar index ticked down by 0.01% to 98.3640.