Services boost U.S. producer prices; underlying inflation firming
(WorldNews Business)

By Lucia Mutikani WASHINGTON (Reuters) - U.S. producer prices rose more than expected in October, driven by a surge in the cost of services, leading to the biggest annual increase in wholesale inflation in over 5-1/2 years. Tuesday`s report from the Labor Department also showed steady gains in underlying producer prices, which support expectations of a gradual increase in inflation and keep the Federal Reserve on track to raise interest rates in December. The producer price index for final demand increased 0.4 percent last month after...