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US monthly producer prices fall for 2nd straight month in March

Seasonally adjusted producer prices in the U.S. edged down 0.2% month over month in March following a 0.6% fall in February, data from the U.S. Bureau of Labor Statistics showed.

The consensus estimate of economists polled by Econoday was for prices to drop 0.3%.

The drop in the producer price index was driven by a 1% fall in the index for final demand goods, the largest decline since September 2015, driven by a 6.7% drop in energy prices.

Meanwhile, the index for final demand services rose 0.2%.

Excluding foods, energy, and trade services, producer prices for final demand ticked down 0.2%, matching the decline last seen in October 2015.