CNBC reports that the producer price index rose 0.3% in October, less than expected, but the annual rate accelerated to 6.5%, the highest since November 2022, with markets pricing in a quarter-point Fed rate hike at its December 8-9 meeting. Chicago Fed President Austan Goolsbee calls inflation broad-based and more persistent than predicted, and CNBC reports policymakers worry pressures from the Iran war, fuel prices, and Trump's tariffs are spreading through the economy.