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WASHINGTON — A drop in gasoline prices dragged producer prices down by a seasonally-adjusted 0.2 percent in April to mark the biggest decline since October, according to data released Friday by the Labor Department.

The unadjusted 12-month rise of 1.9 percent was the weakest since October 2009.

Excluding food and energy, core producer prices edged up 0.2 percent as prices for pharmaceuticals and civilian aircraft rose. That marks the second month in a row where core prices exceeded the headline rate.

Economists polled by MarketWatch anticipated a 0.1 percent drop in producer prices and a 0.2 percent gain for core wholesale prices.

To read more, go to MarketWatch

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