Veggies Help Pull Producer Price Index Down 0.1% for September
The Producer Price Index for finished goods dipped a seasonally adjusted 0.1% for September, according to a Labor Department report (link opens as PDF) released today.
After August's index increased 0.3% due primarily to rising gas and vegetable prices, this latest report missed analyst expectations of a 0.2% increase .
Source: Labor Department
Diving deeper, a 1% dip in food prices was the main source of this month's price decrease, pushed lower by a nearly 18% drop in the prices of fresh and dry vegetables. In contrast, finished energy goods bumped up 0.5% in price, due primarily to a 6% increase in home heating oil prices. Excluding food and energy, two fairly volatile goods, producer prices edged up 0.1%, matching analyst expectations.
Moving back along the supply chain, prices for intermediate goods increased 0.1%, while crude goods prices moved up 0.5%.
The article Veggies Help Pull Producer Price Index Down 0.1% for September originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.