Producer Prices Fall Again in May

Washington, DC, June 13, 2012 -- Producer prices fell 1.0% in May on lower costs for food and energy, the Labor Department reported.

Economists had predicted a fall of 0.9% for the month.

The May decline in the index was the largest since a drop of 1.2% in July 2009.

This is the second straight monthly decline in wholesale prices.

In the 12 months ending in May, producer prices gained 0.7%, the lowest annual gain since October 2009.