WASHINGTON (dpa-AFX) - Reflecting steep drops in food and energy prices, the Labor Department released a report on Thursday showing producer prices in the U.S. unexpectedly edged lower in the month of January.
The Labor Department said its producer price index for final demand slipped by 0.1 percent for the second straight month in January. Economists had expected the index to inch up by 0.1 percent.
Excluding food and energy prices, core consumer prices increased by 0.3 percent in January after coming in unchanged in December. Core producer prices were expected to rise by 0.2 percent.
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