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Producer Prices in U.S. Little Changed as Car Costs Decline

Wholesale prices in the U.S. unexpectedly were little changed in July, reflecting the biggest drop in auto costs in four years.

The steady reading in the producer price index followed a 0.8 percent gain in June, a Labor Department report showed today in Washington. The median estimate in a Bloomberg survey of 73 economists projected a 0.3 percent rise. The so-called core measure, which excludes volatile food and fuel, climbed less than forecast.