US wholesale prices in October posted a record drop in more than 60 years, the Labor Department reported on Tuesday.

The wholesale prices plunged by 2.8 percent on a seasonally adjusted basis in October, topping the previous record drop of 1.6 percent in October 2001, the month after the September 11 terrorist attacks.

The 2.8 percent drop in the department's producer price index, a measure of inflation at the wholesale level, was bigger than twice the 1.8 percent decrease that analysts' expected last month.

(Xinhua News Agency November 19, 2008)