Sharp fall in US producer prices
By Lucia Mutikani |
March 18, 2010, Thursday
|
Print Edition
Print Edition
PRODUCER prices in the United States fell more steeply than expected in February, posting their biggest drop in seven months as energy costs tumbled, according to a government report yesterday that pointed to scant inflation pressures.
The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate fell 0.6 percent, the largest decline since July, following a 1.4 percent rise in January.
Analysts polled by Reuters had expected producer prices to fall 0.2 percent last month. Compared to February last year, they increased 4.4 percent, slowing from a 4.6 percent rise in January.
The report came a day after the Federal Reserve renewed its promise to hold benchmark interest rates exceptionally low for an extended period, arguing that substantial resource slack would likely keep inflation subdued for some time. It left overnight interest rates in a range of zero to 0.25 percent.
The Labor Department attributed the February decline in wholesale prices to a 2.9 percent drop in energy costs, which was also the largest decline in seven months and represented a sharp reversal from January, when energy costs surged 5.1 percent.
Gasoline prices plummeted 7.4 percent after an 11.5 percent rise in January. Food prices rose 0.4 percent after rising by the same margin in January. Stripping out volatile food and energy costs, core producer prices edged up 0.1 percent in February.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
