(202) 606-7705 Release Is Embargoed Until — 1994-11-10

In October, the Producer Price Index for Finished Goods declined 0.5 percent seasonally adjusted for the second consecutive month, the Bureau of Labor Statistics of the U. S. Department of Labor reported today. The decreases in September and October followed increases in each of the previous 3 months. In October, prices received by domestic producers of intermediate goods rose 0.3 percent, the same as in September. Crude material prices fell 0.6 percent, the fourth consecutive monthly decline. (See table A.) Among finished goods, the index for finished energy goods fell 1.2 percent in October after declining 2.9 percent a month earlier, and the index for finished consumer foods moved down 0.2 percent, the same as in September. The index for finished goods less foods and energy turned down 0.5 percent after several months of increases, as prices for motor vehicles rose less than the recent average for this time of the year.