(202) 606-7705 This Release Is Embargoed — 1998-02-18

The Producer Price Index for Finished Goods declined 0.7 percent in January, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decline was led by a sharp drop for finished energy prices and followed decreases of 0.2 percent in both December and November. The index for finished goods other than foods and energy declined 0.1 percent for the third consecutive month. Prices received by producers of intermediate goods fell 0.6 percent in January, after decreasing 0.3 percent in the prior month. The crude goods index declined 4.5 percent, following a decrease of 5.2 percent in December. (See table A.) Among finished goods in January, the index for energy goods fell 3.7 percent, following a decrease of 0.8 percent in the previous month. Prices for finished consumer foods fell more than in December. The index for finished consumer goods other than foods and energy decreased, after showing no change a month ago.