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Producer prices slid in October

Nov. 14, 2012 at 11:55 AM

WASHINGTON, Nov. 14 (UPI) -- U.S. producer prices for finished goods fell 0.2 percent in October after rising the previous four months, the Bureau of Labor Statistics reported Wednesday.

Prices for food items rose 0.4 on a seasonally adjusted basis, while energy prices fell 0.5 percent. Core prices, which excludes both energy and food items because of the price volatility of those categories, fell 0.2 percent month-to-month.

On an annual basis, prices were up 2.3 percent in October, consistent with August and September, when 12-month price gains stood at 2 percent and 2.1 percent, respectively.

Prices for finished goods in the energy sector turned lower after rising 4.7 percent in September. Most of the decline was prompted by a 2.2 percent drop in gasoline prices, although prices for home heating oil and and liquefied petroleum gas also fell.

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