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US wholesale prices drop record 1.3% in April

US wholesale prices drop record 1.3% in April

The Labor Department on Wednesday reported that Wholesale prices fell a record 1.3% in Apr, led by a 19% plunge in energy cost. Wholesale prices for last 12 months stood down 1.2%, a further indication of dormant inflation pressures. The data comes on back of report on Tuesday which highlighted consumer prices declined 0.8% in Apr, the steepest month-to-month fall since the 2008 financial crisis.

Milan
Milan
Top in Business