(RTTNews) - Producer prices in the U.S. increased by slightly more than anticipated in the month of October, according to a report released by the Labor Department on Friday. "While the increase in prices was just above expectations, inflation pressures remain muted overall and will lend support to the Fed's strong accommodative bias," said Oren Klachkin, Lead U.S. He added, "High frequency data suggests demand momentum has slowed amid a resurgence in Covid-19 cases, and our inflation outlook remains subdued."