U.S. wholesale prices rose a bit faster in October and suggested the battle by the Federal Reserve to reduce inflation to low prepandemic levels may last awhile.

Market interest rates have risen over the past few months and the 10-year Treasury, often a benchmark for borrowing costs, is now yielding 4.45% – up from 3.6% in mid-September. Mortgage rates have risen about a percentage point to an average of 7% now from early September.

Inflation in India’s wholesale prices hardened from 1.84% in September to 2.4% in October, led by a well over two-year high spike in food prices to 11.6% from 9.5% in the previous month, as per the data released on Thursday (November 14, 2024).