U.S. Producer Prices Drop 0.4% In October, Inflation Quiet

U.S. producer prices fell 0.4% in October, reflecting lower revenues generated by retailers and wholesalers. Economists surveyed by MarketWatch had predicted a seasonally adjusted 0.3% increase. Excluding the volatile categories of food, energy and trade, core prices fell a smaller 0.1%. The price of services dropped 0.3% while goods declined 0.4%. Over the past year overall producer prices have fallen 1.6% in unadjusted terms. Core wholesale prices are up 0.4% in the same span, however.