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U.S. Producer Prices Decrease More Than Expected In May
(RTTNews) - Producer prices in the U.S. decreased by more than expected in the month of May, according to a report released by the Labor Department on Wednesday.
The Labor Department said its producer price index for final demand fell by 0.3 percent in May after inching up by 0.2 percent in April. Economists had expected producer prices to edge down by 0.1 percent.
The report also showed the annual rate of producer price growth slowed to 1.1 percent in May from 2.3 percent in April. The rate of growth was expected to decelerate to 1.5 percent.
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