Wholesale prices tumble
Sharp drop in energy prices sends Producer Price Index down 0.6% in September
WASHINGTON (Reuters) -- U.S. producer prices dropped an unexpected 0.6% in September, mainly because of a 2.4% decline in energy prices, the Labor Department said Tuesday.
Analysts polled by Reuters had anticipated prices would remain unchanged after they rose an unrevised 1.7% in August. Prices paid at the farm and factory gate also fell 4.8% on the year, which was steeper than forecasts of a 4.2% drop.
Excluding food and energy, prices declined by a much slimmer 0.1% in September. ![]()
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