Producer Prices Drop Thursday, December 13, 4:55 PM ET
The Labor Department announced that the seasonally adjusted producer price index dropped by 0.8 percent last month, the second straight decline. The drop was more than expected due to falling energy prices, and was the sharpest since May. Economists had expected a drop of 0.5 percent last month. Wholesale prices excluding food and energy rose 0.1 percent, after a 0.2 percent drop in October. Analysts had expected an increase of 0.2 percent.
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