Producer prices drop in September as energy costs fall

Inflation remains a nonfactor in the U.S. economy. Producer prices plunged 0.6 percent in September, the U.S. Labor Department announced Tuesday. A reversal in energy prices dragged the index lower, keeping a lid on inflation at the wholesale level.

Energy costs did a u-turn in September, falling 2.4 percent, after surging 8.0 percent in August. Further, the core PPI rate, which excludes the often-volatile food and energy component, fell 0.1 percent during the month.