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Wholesale Prices in U.S. Unexpectedly Drop on Services

Bloomberg (03/14/15) Michelle Jamrisko

The producer price index fell 0.1% in February, following a 0.2% increase in January, according to the U.S. Department of Labor. A survey by Bloomberg had forecast a 0.2% increase. However, prices were restrained due to a 0.3% decline in the cost of services, the largest such decline in a year.