WASHINGTON – U.S. wholesale prices fell 0.2% in June as food costs dropped sharply, offsetting a big increase in energy prices.The Labor Department said the drop in its Producer Price Index, which measures inflation pressures before they reach consumers, followed a 0.4% gain in May.
Wholesale prices have fallen in four of the past five months. The country has been pushed into a deep recession which is expected to see the economy shrink in the April-June quarter by a record-shattering amount.
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