Producer Price Index Shows Inflation Easing In September

The Producer Price Index was unchanged in September according to the U.S. Bureau of Labor Statistics reported Friday. It is another sign of a continuing reduction in the inflation level.

The consensus on the street was that it would rise 0.1% for the month.

Prices advanced 0.2 percent in August and were unchanged in July.

The Producer Price Index measures the average change in the selling prices received by domestic producers for their goods and services.

Within final demand in September, a 0.2-percent increase in the index for services offset a 0.2-percent decline in prices for goods.

The index, less foods, energy and trade services, inched up 0.1 percent in September after rising 0.2 percent in August. For the 12 months ended in September, prices increased 3.2 percent.

The new number come a day after the Labor Department's consumer price index also showed a much lower rate of inflation versus a year ago.