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Producer prices drop again

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Producer prices drop again

April decrease of 0.4% resumes downward trend.

The seasonally-adjusted Producer Price Index for final demand increased 0.4% in April, the U.S. Bureau of Labor Statistics reported today.  This followed an increase of 0.2% in March, which temporarily ended four straight months of declines. 

Analysts had expected an increase of 0.2%.

The decrease was largely attributed to falling energy costs, falling food costs and the strength of the US dollar.

In the 12 months through April, producer prices fell 1.3%, significantly below analysts’ expectation of a 0.8% decrease during that period.

Producer prices excluding volatile food and energy costs increased 0.1%, after a 0.2% increase in March.

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