Small rise in US producer prices

Food prices rose in October, pushing up overall producer prices

US producer prices rose less than expected in October as a weak economy largely kept inflation in check, official figures have shown.

The Labor Department's Producer Price Index rose 0.3% compared with the previous month. Analysts had expected a rise of 0.5%.

But prices were 1.9% lower than they were a year ago, in the 11th straight month of annual declines.

The index measures the prices of goods before they reach store shelves.

Food and energy prices both rose 1.6% on the previous month.

Excluding these, the core index fell 0.6% in October.