The Producer Price Index for Finished Goods advanced 0.3% in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. This increase followed a 0.6% decline in September and a 1.7% rise in August.
In October, at the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 0.3% and the crude goods index increased 5.4%. On an unadjusted basis, from October 2008 to October 2009, prices for finished goods fell 1.9%, the eleventh consecutive month of year-over-year declines.
The index for finished goods less foods and energy moved down 0.6%, its second consecutive decrease. Lower prices for light motor trucks and passenger cars led the October decline, falling 5.2% and 0.5%, respectively. As is usual practice, most new model-year passenger cars and light motor trucks were introduced into the PPI in October.
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Image Source: U.S. Bureau of Labor Statistics – Numbers seasonally adjusted
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