U.S. producer prices increased solidly in October, indicating that high inflation could persist for a while amid tight supply chains related to the pandemic. The producer price index for final demand rose 0.6% last month after climbing 0.5% in September, the Labor Department said on Tuesday. In the 12 months through October, the PPI increased 8.6% after a similar gain in September. Economists polled by Reuters had forecast the PPI advancing 0.6% on a monthly basis and rising 8.7% year-on-year. (Reporting by Lucia Mutikani, editing by Louise Heavens)
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