Falling food, energy costs drive down U.S. wholesale prices

08/19/2009 | InvestmentNews (free registration)

Wholesale prices fell 0.9% in July, three times what economists had expected, the U.S. Labor Department said. Big factors were declines in the cost of food and energy. "Deflation worriers will find some cause for concern in the general picture, though the broad pattern remains one of gently oscillating monthly price changes, rather than sustained tip into decline," Pierre Ellis, senior economist at Decision Economics, wrote to clients.

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