Tuesday, November 18, 2008
Charts: US Producer Price Index (Oct 2008)
US Producer Price Index for October 2008. Reports of deflation may be exaggerated as yet -- it's clear from this chart that energy goods led the price decline (prices paid for crude oil were down 26% after falling 9% in September). Gasoline prices dropped 24.9%; intermediate energy goods fell too, with diesel down 16.4%, following a 6.4% decrease in September, and primary basic organic chemicals prices were down 20.8% after moving down 7.4% in September.