June 16, 2009

Producer prices rise marginally

The Producer Price Index for finished goods in the United States rose slightly in May, the Bureau of Labor Statistics reported Tuesday.

The PPI rose 0.2 percent during the month, an indication inflation was still in check.

Core prices, which exclude energy and food items, shrank 0.1 percent, as energy prices rose a less-than-expected 2.9 percent and food prices fell 1.6 percent.

In the past 12 months, prices for finished goods have fallen 5 percent, the bureau said. Finished energy goods prices have dropped 27.3 percent from a year ago, while finished food prices have fallen 2.1 percent, the report said.