(202) 606-7705 This Release Is Embargoed — 1998-09-11

The Producer Price Index for Finished Goods declined 0.4 percent in August, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This drop followed a 0.2-percent advance in July and 0.1-percent decrease in June. The index for finished goods other than foods and energy fell 0.1 percent, following two consecutive increases. Prices received by producers of intermediate goods fell 0.3 percent in August, after showing no change in July. The crude goods index declined 2.7 percent, following a 1.8-percent drop in the previous month. (See table A.) Among finished goods in August, the indexes for finished energy goods and finished consumer foods decreased, after increasing one month ago. Prices for finished consumer goods excluding foods and energy were unchanged, following an increase in July. The index for capital equipment fell 0.3 percent, after a small rise in the previous month. Table A.