U.S. Wholesale Prices Fall 1.4 Percent
Posted on: Wednesday, 19 September 2007, 09:00 CDT
U.S. wholesale prices fell 1.4 percent on food and energy price drops but core prices excluding food and energy rose 0.2 percent, Washington said Tuesday.
August's price fall, after July's 0.6 percent rise, was the biggest drop since October 2006, the U.S. Labor Department said.
The core producer-price index rise followed July's 0.1 percent increase, the department said.
Many Wall Street economists had expected a 0.3 percent drop in the main index and 0.1 percent rise in the core.
The indexes measure inflation pressures before they reach the consumer.
Wholesale energy prices fell 6.6 percent last month, the biggest decline since April 2003, with gasoline prices tumbling 13.8 percent, the largest drop since September 2006, the department said.
Food prices fell 0.2 percent.
Passenger-car wholesale prices rose 0.5 percent, while light-truck prices fell 0.9 percent.
Computer prices fell 3.2 percent.
The government plans to report on consumer prices Wednesday.
Source: United Press International
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