US producer prices fell in September because of cheaper gas
Source: AP
By JOSH BOAK
WASHINGTON (AP) — Prices fell for manufacturers, farmers and other producers in September, as lower energy costs have limited broader inflation.
The Labor Department said Wednesday that the producer price index, which measures price changes before they reach the consumer, dropped 0.5 percent last month after being unchanged in August. Excluding the volatile food and energy categories, core prices tumbled 0.3 percent in September.
Wholesale prices have decreased 1.1 percent from a year ago, with September marking the eighth straight 12-month decline. Gasoline costs fell a sharp 16.6 percent, while food prices slid 0.8 percent.
Consumer prices, meanwhile, have barely risen. According to the Federal Reserve's preferred measure, they increased just 0.3 percent in August from a year earlier. Excluding the volatile categories of food and energy, core prices have risen a gentle 1.3 percent in the 12 months ending in August.
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FILE - In this Friday, June 5, 2015, file photo, Sarah Hinkes places freshly baked bread onto a rack at Zak the Baker in Miami. The Labor Department reports on U.S. producer price inflation in September on Wednesday, Oct. 14, 2015. (AP Photo/Lynne Sladky, File)
Read more: http://bigstory.ap.org/article/d87e7bb26fca408daee7c3b03307f84a/us-producer-prices-fell-september-because-cheaper-gas
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