Wholesale prices slide for 4th straight month
February's surprise 0.5% decline reflects cheaper food and slump in profit margins among wholesalers and retailers
Washington
WHOLESALE prices in the United States 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 per cent decrease in the producer price index (PPI) followed a 0.8 per cent drop the prior month, a Labor Department report showed on Friday. The so-called core measure, which strips out volatile food and fuel, also decreased 0.5 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April