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# American producer prices are rising at their fastest annual pace since November 2022
- URL: https://www.sharespective.com/stories/american-producer-prices-are-rising-their-2026-11-14/
- Published: 2026-11-13T22:15:01.000Z
- Updated: 2026-11-14T02:50:45.000Z
- Description: Producer prices rose 0.3% in October, below the 0.4% economists expected. The annual rate came in at 6.5%, the highest in nearly four years.
- Author: Shaun Botha
- Tags: Inflation, #story, #group-economy

Producer prices rose 0.3% in October, below the 0.4% economists expected. The annual rate came in at 6.5%, the highest in nearly four years.

**So why did bond yields rise on a soft number?** The annual rate is the one the Federal Reserve has to answer for. Prices excluding food, energy and trade services rose 0.5% in October, the same as September, and food alone rose 1.3% on the month.

The week's move in the bond market was much larger than Friday's. The two-year Treasury yield added 35.2 basis points over the five sessions to 4.872%, its biggest weekly move since September 2024.

![Chart: US producer inflation climbs back to 6.5%. US producer prices for final demand, change from a year earlier, monthly, November 2021 to October 2026. October's rate was the highest since November 2022.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/11/american-producer-prices-are-rising-their-2026-11-14-chart.jpg)

This story’s chart of the day.

The 10-year finished at 5.152%, up 29.4 basis points and ending five straight weeks of falls. Futures now treat a December rise as a near certainty, with about 88% on a quarter point and 12% on a half.

Where it bites 

producer prices are what companies pay before they decide what to charge, so October's 6.5% is a fair guess at the pressure still to reach shoppers. The core measure has run at 0.5% for two months now, and that is the line to follow into December.

[ This story ran in The Chip Trade Unwinds Saturday 14 November’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-11-14/)