U.S. Producer Price Index for final demand drops 0.5% in October
PPI for final demand rose 1.3 percent for the previous 12 months
The Producer Price Index (PPI) for final demand (seasonally adjusted) dropped 0.5 percent in October after an increase of 0.4 percent in September.
October’s is the largest decrease in final demand prices since a 1.2-percent drop in April 2020, a Bureau of Labor Statistics press release said Wednesday. On an unadjusted basis, the index for final demand rose 1.3 percent for the 12 months ended in October, according to the press release.
The index for final demand goods fell 1.4 percent last month. Prices for final demand services, however, was unchanged. The index for final demand less foods, energy, and trade services advanced 0.1 percent in the month, marking the fifth consecutive rise. For the 12 months ended in October, prices for final demand less foods, energy, and trade services moved up 2.9 percent.
