Producer prices fell in October

WASHINGTON, Nov. 15 (UPI) -- The U.S. Producer Price Index for finished goods fell 0.3 percent in October, the Bureau of Labor Statistics reported Tuesday.

Core prices, which exclude food and energy items, were flat for the month. Food prices alone edged up 0.1 percent. Energy prices dropped 1.4 percent in the month.

Prices received by producers have risen 5.9 percent on an annual basis, a full percentage point lower than the annual rate in September.

Prices for intermediate goods -- a step further down on the production chain -- dropped 1.1 percent. Prices for crude goods -- chemicals, natural gas and other items -- fell 2.5 percent.