MW: U.S. PPI falls for fifth straight month; energy, food drop
Inflation at the wholesale level fell in December for the fifth consecutive month, the Labor Department said Thursday. The producer price index declined 1.9%, driven by a 9.3% drop in energy prices, and a 1.5% decline for foods. In November, the PPI fell 2.2%. The December core PPI, which excludes food and energy costs, rose 0.2%, compared with a 0.1% gain in November. Economists polled by MarketWatch were expecting the December PPI to fall 2.2%, and for the core to show no growth.
