Producer prices drop sharply
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10/14/2015 12:45:00
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Largest decline in eight months.
The seasonally-adjusted Producer Price Index for final demand fell 0.5% in September, the U.S. Bureau of Labor Statistics reported today. This followed a flat reading in August. The September decline was the largest since January of this year.
Analysts had expected a decrease of 0.2%.
The results were largely attributed to falling energy costs and the strength of the US dollar.
In the 12 months through September, producer prices fell 1.1%, a larger decline than analysts’ expectation of a 0.7% decrease during that period.
Producer prices excluding volatile food and energy costs increased 0.3%, after a 0.1% increase in August. This key measure was up 0.5% over the last 12 months.
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