Wholesale Prices in U.S. Unexpectedly Drop on Services
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Producer prices in the U.S. unexpectedly dropped in February, held back by the biggest decrease in the cost of services in almost a year.
The 0.1 percent decrease in the producer-price index followed a 0.2 percent rise the prior month, a Labor Department report showed today in Washington. None of the 73 economists surveyed by Bloomberg projected a decrease. Over the past 12 months, wholesale prices rose 0.9 percent, the smallest year-to-year gain since May.