Prices paid to U.S. producers accelerated in October, largely due to higher goods costs, fueling concerns about the persistence of inflationary pressures in the economy.

A key measure of U.S. producer prices unexpectedly fell in December and the overall gauge declined more than forecast amid lower oil prices, signaling potential inflation pressures in the economy are contained.

U.S. producer prices rose in November on advances in foods and transportation services, while a measure of underlying costs accelerated, offering some potential signs of inflation pressures bubbling up in the economy.