Prices at the wholesale level in the United States rose 8 percent in October from a year ago, the fourth straight decline and the latest sign that inflation pressures are easing from painfully high levels.The annual figure is down from 8.4 percent in September. On a monthly basis, the government said Tuesday that its producer price index, which measures costs before they reach consumers, rose 0.2 percent in October from September, the same as in the previous month.The figures came in lower than economists expected and make it more likely that the US Federal Reserve will increase its benchmark interest rate in smaller increments. It has hiked its short-term rate by three-quarters of a point for four meetings in a row, but economists now increasingly foresee an increase of a half point at its December meeting.
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