Wholesale prices rose less than expected in October as the weak economy kept inflation pressures largely in check. Federal Reserve Chairman Ben Bernanke says that inflation probably will remain “subdued for some time.” That allows the central bank to keep the short-term interest rate it controls at its record low of nearly zero. The Labor Department says its Producer Price Index rose 0.3% last month, after falling 0.6% in September. Analysts had expected a 0.5% gain, according to Thomson Reuters. The index tracks the prices of goods before they reach store shelves and is considered an early read of price trends.
Wholesale inflation up less than expected in October
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