December 2008 Producer Price Index — 2009-01-15

The Producer Price Index for Finished Goods fell 1.9 percent in December, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decrease followed a 2.2-percent decline in November and a 2.8-percent drop in October. At the earlier stages of processing, prices received by producers of intermediate goods fell 4.2 percent in December after decreasing 4.3 percent in the prior month, and the crude goods index declined 5.3 percent following a 12.5-percent drop in November. (See table A.) The slower rate of decrease in finished goods prices was led by the index for energy goods, which fell 9.3 percent in December after declining 11.2 percent in November. Prices for finished goods other than foods and energy rose 0.2 percent in December compared with a 0.1- percent increase in the preceding month.