October 2008 Producer Price Index — 2008-11-18

The Producer Price Index for Finished Goods fell 2.8 percent in October, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decrease followed a 0.4-percent decline in September and a 0.9-percent fall in August. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 3.9 percent in October after declining 1.2 percent in September, and the crude goods index dropped 18.6 percent subsequent to a 7.9-percent decrease in the previous month. (See table A.) Among finished goods in October, prices for energy goods fell 12.8 percent compared with a 2.9-percent decline a month earlier. The index for consumer foods edged down 0.2 percent following a 0.2-percent increase in the prior month. Prices for goods other than foods and energy rose 0.4 percent for the second consecutive month. Before seasonal adjustment, the Producer Price Index for Finished Goods declined 2.6 percent in October to 177.3 (1982 = 100).