The Producer Price Index for final demand fell 0.5% in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
On an unadjusted basis, the index for final demand advanced 1.3% for the 12 months ended in October.
The index for final demand goods fell 1.4% in October, while prices for final demand services were unchanged. Over 80% of the decline is attributable to the drop in gasoline prices.
The index for final demand less foods, energy and trade services increased 0.1% in October, the fifth consecutive advance. For the 12 months ended in October, prices for final demand less foods, energy and trade services moved up 2.9%.