Wholesale prices in the U.S. unexpectedly declined in February for a fourth consecutive month, reflecting cheaper food and a slump in profit margins among wholesalers and retailers.
The 0.5 percent decrease in the producer price index followed a 0.8 percent drop the prior month, a Labor Department report showed Friday. The median estimate in a Bloomberg survey of 73 economists called for a gain of 0.3 percent. The so-called core measure, which strips out volatile food and fuel, also decreased 0.5 percent.
Inflation in the U.S. has decelerated as a rising dollar cheapened the cost of imports and crude oil slumped. Federal Reserve policymakers are awaiting signs that inflation will move back up toward their target as they consider raising interest rates for the first time since 2006.
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