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Fall in US energy prices

By BFN News | 03:03 PM | Friday 11 May, 2012


Producer prices in the US fell last month with the major factor being the biggest fall in six months in energy costs. The Labor Department has announced that its seasonally adjusted producer price index dropped 0.2% in April, which was the first drop of the year and the biggest decline since October. Michelle Meyer, an economist at Bank of America Merrill Lynch in New York, predicted that consumer prices were being contained and that the Fed should not be worried about inflation. Story provided by StockMarketWire.com