US producer prices dip 0.1 percent in February
Source: AP-Excite
By CHRISTOPHER S. RUGABER
WASHINGTON (AP) - The prices companies receive for their goods and services fell slightly in February, the latest sign that inflation is tame.
The producer price index, which measures price changes before they reach the consumer, dropped 0.1 percent in February, the Labor Department said Friday. That's the first decline since November. A sharp fall in the price markups by wholesalers and retailers pushed down the index.
Producer prices rose 0.9 percent from 12 months ago. That's the smallest 12-month increase since last May.
Wholesale food and energy prices increased, as did the cost of pharmaceuticals. Excluding the volatile categories of food, energy and retailer and wholesaler profit margins, core prices ticked up 0.1 percent.
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In this Jan. 9, 2014 photo, Andy Hines, Linh Nyugen loads live lobsters into a cargo truck for delivery to local cafes after leaving the Miami airport. The Labor Department releases the Producer Price Index for February on Friday, March 14, 2014. (AP Photo/J Pat Carter)