U.S. Producer Prices Fall Much More Than Expected In January

(RTTNews) - Reflecting another substantial decrease in energy prices, the Labor Department released a report on Wednesday showing that U.S. producer prices fell by much more than expected in the month of January.

The Labor Department said its producer prices index for final demand slumped by 0.8 percent in January after edging down by 0.2 percent in each of the two previous months. The index had been expected to drop by 0.4 percent.

Excluding food and energy prices, the core producer price index dipped by 0.1 percent in January after rising by 0.3 percent in December. Core prices had been expected to inch up by 0.1 percent.