Producer Price Index Falls 1.6% In October

Decline is second consecutive decrease.

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.

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