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Producer prices drop again

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Producer prices drop again

0.4% decline follows a 0.5% drop in September.

The seasonally-adjusted Producer Price Index for final demand fell 0.4% in October, the U.S. Bureau of Labor Statistics reported today.  This followed a 0.5% decrease in September. The September decline was the largest since January of this year. 

Analysts had expected an increase of 0.2%.

The results were largely attributed to falling services costs and the strength of the US dollar.

In the 12 months through October, producer prices fell 1.6%, a larger decline than analysts’ expectation of a 1.2% decrease during that period.

Producer prices excluding volatile food and energy costs decreased 0.1%, after a 0.3% drop in September.  This key measure was up 0.4% over the last 12 months.

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