US PRODUCER PRICES FLAT

U.S. producer prices were unchanged in September as a small rise in the cost of services was offset by cheaper goods, pointing to a still-favorable inflation outlook and supporting views that the Federal Reserve would cut interest rates again next month.

The unexpected flat reading reported by the Labor Department on Friday followed data on Thursday showing consumer prices increased slightly more than expected last month. But some components that go into the personal consumption expenditures (PCE) price indexes were a bit firmer, suggesting fairly warmer underlying inflation in September. The U.S. central bank tracks the PCE price indexes for its 2% inflation target.

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