October 2023 Producer Price Index — 2023-11-15

The Producer Price Index for final demand fell 0.5 percent in October, seasonally adjusted, after advancing 0.4 percent in September, the U.S. Bureau of Labor Statistics reported today. (See table A.) The October decline is the largest decrease in final demand prices since a 1.2-percent drop in April 2020. On an unadjusted basis, the index for final demand rose 1.3 percent for the 12 months ended in October. In October, the index for final demand goods fell 1.4 percent. Prices for final demand services were unchanged. The index for final demand less foods, energy, and trade services advanced 0.1 percent 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 percent. Final demand goods: Prices for final demand goods moved down 1.4 percent in October, the first decrease since falling 1.5 percent in May.