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Producer Price Index down 0.5% in June, ex Fd & Engy up 0.1%
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The Producer Price Index for Finished Goods fell 0.5 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease followed declines of 0.3 percent in May and 0.1 percent in April. At the earlier stages of processing, prices received by producers of intermediate goods moved down 0.9 percent in June and the crude goods index dropped 2.4 percent. On an unadjusted basis, prices for finished goods rose 2.8 percent for the 12 months ended June 2010, their third straight month of slowing year-over-year advances following a 6.0-percent increase for the 12 months ended in March.
In June, over eighty percent of the 0.5-percent decrease in the finished goods index can be traced to prices for consumer foods, which fell 2.2 percent. Also contributing to lower finished goods prices, the index for finished energy goods declined 0.5 percent. By contrast, prices for finished goods other than foods and energy inched up 0.1 percent in June.
Posted: July 15, 2010 Thursday 08:30 AM