U.S. wholesale costs drop 0.2% in October

WASHINGTON (MarketWatch)
U.S. wholesale prices fell a seasonally adjusted 0.2% in October, the Labor Department said Thursday, marking the second straight decline and reflecting the lack of inflationary pressure in the U.S. economy
Economists surveyed by MarketWatch had predicted a 0.1% decline
Over the past 12 months wholesale costs have risen a scant 0.3%, the same as in September
Energy costs fell 1.5% last month, led by declines in gasoline and natural gas
Yet the food index rose 0.8% in what was the biggest monthly gain since March
Excluding the volatile categories of food and energy, core wholesale prices rose 0.2%, and they are up just 1.4% over the past 12 months
Economists surveyed by MarketWatch had predicted a 0.1% increase in core PPI