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Producer prices drop sharply

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Producer prices drop sharply

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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