U.S. wholesale prices sink 1.3% as coronavirus triggers broad collapse in demand
By Jeffry Bartash
Published: May 13, 2020
Yearly rate of wholesale inflation turns negative, PPI shows
The numbers: The wholesale cost of U.S. goods and services sank 1.3% in April — the largest decline on record — as the coronavirus bore down on the economy and cratered demand.
The decline last month was the third in a row and the largest since the government reconfigured its wholesale report in 2009 to include services such as finance and health care. Economists polled by MarketWatch had predicted a 0.5% drop.
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