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Producer Price Index decreased 0.4% in September
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The Producer Price Index for Finished Goods decreased 0.4 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Deparment of Labor reported today. 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 percent after decreasing 1.0 percent a month earlier, and the decline in the crude goods index slowed to 7.9 percent in September from 11.9 percent 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 percent after falling 4.6 percent in August. Price advances for finished goods less foods and energy accelerated to 0.4 percent from 0.2 percent a month earlier. Conversely, the rise in the index for finished consumer foods slowed to 0.2 percent in September from 0.3 percent in the prior month.
Posted: October 15, 2008 Wednesday 08:35 AM