February wholesale prices drop 0.6 percent
By The Associated Press
This article was published March 17, 2010 at 11:13 a.m.
WASHINGTON — Prices at the wholesale level fell in February by the largest amount in seven months as a drop in energy prices offset higher food costs.
The Labor Department said Wednesday that wholesale inflation fell 0.6 percent in February, much larger than the 0.2 percent decline economists had expected. Excluding food and energy, prices edged up a slight 0.1 percent, in line with expectations.
The recession and weak economic rebound are keeping inflation at bay and giving the Federal Reserve leeway to maintain low interest rates in an effort to build momentum from stronger economic growth.
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