Strong healthcare costs help to lift U.S. producer inflation

WASHINGTON (Reuters) – U.S. producer prices increased by the most in six months in October, lifted by gains in the costs of goods and services, further bolstering the Federal Reserve’s stance that it will probably not cut interest rates again in the near term.

The report from the Labor Department on Thursday showed healthcare costs accelerated last month, with the cost of outpatient care at hospitals posting its largest rise since 2009. The jump in healthcare prices mirrored gains reported in October’s consumer price index report on Wednesday. Still, underlying producer inflation remained muted last month.

Source: https://www.reuters.com/article/us-usa-economy/u-s-producer-prices-rise-solidly-healthcare-costs-increasing-idUSKBN1XO20U

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