Producer prices in the U.S. fell by more than expected in the month of March, according to a report released by the Labor Department on Friday, with the drop in prices largely due to a sharp decrease in energy prices.
The Labor Department said its producer price index fell by 0.6 percent in March after rising by 0.7 percent in February. Economists had expected the index to edge down by 0.2 percent.
Core producer prices, which exclude food and energy prices, inched up by 0.2 percent in March, matching the increases seen in each of the two previous months as well as economist estimates.
For comments and feedback: editorial@rttnews.com