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Wholesale prices dropped more than expected in March.
The Producer Price Index dropped .4% in March – it was expected to rise by .2%.
Wholesale prices unexpectedly fell in March, setting up a favorable inflation backdrop as President Donald Trump began intensifying tariffs against U.S. trading partners, the Bureau of Labor Statistics reported Friday.
The producer price index, considered a leading indicator for pipeline inflation pressures, declined a seasonally adjusted 0.4% for the month, after rising 0.1% in February. Economists surveyed by Dow Jones had been looking for an increase of 0.2%.
Excluding food and energy, so-called core PPI also declined, down 0.1% against the
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