US October producer prices drop unexpectedly

Wholesale prices in the States fell by more than anticipated in October.

According to the U.S. Department of Labor, in seasonally adjusted terms, producer prices fell by 0.5% (consensus: 0.1%).

September's increase meanwhile was revised down by two tenths of a percentage point to 0.4%.

So-called final demand prices for goods dropped by 1.4% in comparison to September, led by a 6.5% decline in energy prices.

Final demand services prices were unchanged but trade prices, which include retailers' margins, fell by 0.7%.

-- More to follow --