Producer prices unexpectedly rose 0.7 percent in October as surging costs of natural gas and home heating oil outweighed cheaper gasoline, but prices outside of food and energy ticked lower, a government report showed on Tuesday.
Wall Street had expected October prices received by farms, factories and refineries to be flat after a roaring 1.9 percent gain the month before. Outside of the volatile food and energy sectors, “core” producer prices declined a surprise 0.3 percent in October despite economist forecasts for a 0.2 percent increase.
