13 December 2012, 18:02  U.S. producer prices fall

With wholesale energy prices showing a sharp drop in the month of November, the Labor Department released a report on Thursday showing that producer prices for the month fell by more than economists had anticipated. The Labor Department said its producer price index fell by 0.8 percent in November following a 0.2 percent drop in October. Economists had been expecting prices to fall by about 0.5 percent. Excluding the sharp drop in energy prices as well as an increase in food prices, the core producer price index edged up by 0.1 percent in November after dipping by 0.2 percent in October. Core prices had been expected to rise by 0.2 percent.

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