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The U.S. Commerce Department released the producer price index figures on Wednesday. The U.S. producer price index declined 0.5% in September, missing expectations for a 0.2% decline, after a flat rise in August.
On a yearly basis, the producer price index decreased 1.1% in September, missing forecasts of a 0.7% decline, after a 0.8% fall in August.
A stronger U.S. dollar and low oil prices still weigh on inflation.
Services prices were down 0.4% in September, while prices for goods declined 1.2%.
Food prices decreased by 0.8% in September, while energy sales declined 5.9%.
The producer price index excluding food and energy fell 0.3% in September, missing expectations for a 0.1% gain, after a 0.3% increase in August.
On a yearly basis, the producer price index excluding food and energy climbed 0.8% in September, missing forecasts of a 1.2% increase, after a 0.9% rise in August.
These figures could mean that the Fed will not start raising its interest rate this year.
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