# US Producer Prices Up 6.5% Year-Over-Year

> US producer prices rose 6.5% annually, the highest since November 2022, boosting Fed rate hike odds to 89.7% for December.
- Title: US Producer Prices Up 6.5% Year-Over-Year · Startup Fortune
- Summary: US producer prices rose 6.5% annually, the highest since November 2022, boosting Fed rate hike odds to 89.7% for December.
- Keywords: us producer prices, fed rate hike, december meeting, producer price index, wholesale inflation, nvidia leadership transition, treasury yield, Startup Fortune
- Source: Startup Fortune — https://startupfortune.com/us-producer-prices-are-up-65-on-the-year-the-most-since-november-2022
- Published: 2026-11-14T13:28:03+00:00
- Read time: 1 min
- Topics: us producer prices, fed rate hike, december meeting, producer price index, wholesale inflation, nvidia leadership transition, treasury yield, startups, business
## Wholesale Inflation Report
The Bureau of Labor Statistics reported US producer prices rose 0.3% in October on a seasonally adjusted basis.
## Annual Price Jump
Prices climbed 6.5% year-over-year, the biggest annual increase since November 2022.
## Economists' Forecast
Economists expected a 0.4% monthly rise, but the report was a notch cooler than forecast.
## Goods Drive Inflation
Goods other than food and energy contributed over 60% of the monthly price increase.
## Steel and Chemicals
Steel mill products rose 2.7% and industrial chemicals climbed 3.1% in October.
## Market Reaction
Futures traders increased odds of a December Fed rate hike to 89.7% after the report.
## Nvidia Leadership Shift
Nvidia's CEO resigned, with interim CEO Colette Kress named effective immediately.
## Key takeaway

US producer prices increased 6.5% year-over-year, the largest jump since November 2022, driving December Fed rate hike odds to 89.7%.