The U.S. Labor Department's Producer Price Index (PPI) for finished goods fell 1.6% in October, its second consecutive monthly decline. The PPI decreased 1.3% in September.
Prices for foods fell eight-tenths of a percentage point in October, and prices for energy goods fell 5%. The core PPI, which does not include price changes for food and fuel, fell nine-tenths of a percentage point. In September, the core PPI had risen six-tenths percent.
Prices received by manufacturers of intermediate goods declined 1.1% in October, not quite as much as September's 1.4% decline, and the Labor Department's crude goods price index fell 10.5% in October, following a 3.4% decline in September.
