Wholesale prices slide for 4th straight month

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.