Producer prices dropped 0.7 percent in April, according to figures released Wednesday by the U.S. Department of Labor. The decline was spurred by a slide in energy prices. Core prices, which exclude the volatile food and energy sector, edged up by a modest 0.1 percent.
Economists had expected the headline number to drop by 0.7 percent. Core prices were projected to rise by 0.2 percent.
Producer prices provide a key measure of wholesale inflation. On Thursday, the government will announce figures on consumer prices, giving a look at changes in retail inflation.
For comments and feedback: editorial@rttnews.com