The Producer Price Index for Finished Goods decreased 0.4% in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This decline followed a 0.9-percent drop in August and a 1.2-percent increase in July. At the earlier stages of processing, prices received by producers of intermediate goods fell 1.2% after decreasing 1.0% a month earlier, and the decline in the crude goods index slowed to 7.9% in September from 11.9% in the preceding month.
 
The slower rate of decline in finished goods prices was led by the index for energy goods, which decreased 2.9% after falling 4.6% in August. Price advances for finished goods less foods and energy accelerated to 0.4% from 0.2% a month earlier. Conversely, the rise in the index for finished consumer foods slowed to 0.2% in September from 0.3% in the prior month.
 
During the third quarter of 2008, the finished goods index fell at a 0.4-percent seasonally adjusted annual rate (SAAR), after climbing at a 14.6-percent SAAR during the second quarter. Much of this downturn can be attributed to the index for finished energy goods, which decreased at a 16.7-percent SAAR for the 3 months ended in September after jumping at a 51.6-percent SAAR for the 3 months ended in June.
 
Prices for finished consumer foods moved up at a 3.1-percent SAAR during the third quarter after rising at a 9.2-percent SAAR during the second quarter. Conversely, the index for finished goods less foods and energy advanced at a 5.4-percent SAAR for the 3 months ended in September after increasing at a 4.4-percent SAAR for the 3 months ended in June.
 
At the earlier stages of processing, the intermediate goods index moved up at a 2.1-percent SAAR during the third quarter after surging at a 25.7-percent SAAR in the second quarter, and prices for crude goods decreased at a 48.9-percent SAAR for the 3 months ended in September after jumping at a 79.1-percent SAAR for the 3 months ended in June.
 
Before seasonal adjustment, the Producer Price Index for Finished Goods fell 0.1% in September to 182.0 (1982 = 100). From September 2007 to September 2008, finished goods prices climbed 8.7%. Over the same period, the index for finished energy goods increased 22.4%, prices for finished consumer foods moved up 8.1-percent, and the index for finished goods less foods and energy advanced 4.0%. For the 12 months ended in September, prices received by manufacturers of intermediate goods rose 15.4%, and the crude goods index increased 26.0%.

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