Producer Prices Declined 0.5% in October
Washington, DC, November 15, 2023-- The Producer Price Index for final demand fell 0.5% in October, seasonally adjusted, after advancing 0.4% in September, the U.S. Bureau of Labor Statistics reported.
The October decline is the largest decrease in final demand prices since a 1.2% drop in April 2020. On an unadjusted basis, the index for final demand rose 1.3% for the 12 months ended in October.
In October, the index for final demand goods fell 1.4%. Prices for final demand services were unchanged.
The index for final demand less foods, energy, and trade services advanced 0.1% in October, the fifth consecutive rise. For the 12 months ended in October, prices for final demand less foods, energy, and trade services moved up 2.9%.