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After reporting an unexpected decrease in producer prices in the previous month, the Labor Department released a report on Thursday showing U.S. producer prices rebounded by slightly more than anticipated in the month of October.
The Labor Department said its producer price index for final demand climbed by 0.4 percent in October after falling by 0.3 percent in September. Economists had expected producer prices to rise by 0.3 percent.
Excluding food and energy prices, core producer prices rose by 0.3 percent in October following a 0.3 percent drop in September. Core prices had been expected to edge up by 0.2 percent.
