Alva Review-Courier -

US wholesale prices fell 0.2% in June as food costs plunged

 


WASHINGTON (AP) — U.S. wholesale prices fell 0.2% in June as food costs dropped sharply, offsetting a big increase in energy prices.

The drop in the Producer Price Index, which measures inflation pressures before they reach consumers, followed a 0.4% gain in May, the Labor Department reported Friday. Wholesale prices have fallen in four of the past five months.

The country has been pushed into a deep recession that is expected to lead to an unprecedented contraction of the economy in the April-June quarter. It is likely the downturn, triggered by the coronavirus pandemic, will keep infla...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020