US October producer prices drop unexpectedly
By Alexander Bueso
Date: Wednesday 15 Nov 2023
(Sharecast News) - Wholesale prices in the States fell by more than anticipated in October.
According to the U.S. Department of Labor, in seasonally adjusted terms, producer prices fell by 0.5% (consensus: 0.1%).
September's increase meanwhile was revised down by two tenths of a percentage point to 0.4%.
So-called final demand prices for goods dropped by 1.4% in comparison to September, led by a 6.5% decline in energy prices.
Final demand services prices were unchanged but trade prices, which include retailers' margins, fell by 0.7%.
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