15 May 2013 16:34 [Source: ICIS news]
WASHINGTON (ICIS)--US wholesale prices for organic chemicals and plastic resins declined in April from March, the Labor Department said on Wednesday, contributing to an overall 0.7% drop in producer prices last month.
Organic chemicals prices at the wholesale level - also known as producer prices - had seen a narrow 0.1% decline in March, in sharp contrast to the 5.4% bump recorded for February.
In plastic resins, the department said that wholesale prices fell by 1.1% last month from March.
That April downturn followed a 2.6% gain in March and a 1.5% advance in February.
The decline in wholesale prices for chemicals and resins was part of the 0.7% drop in producer prices overall last month.
However, most of that decline was attributed to a 2.5% drop in wholesale prices for energy products, including a sharp 6% fall-off in producer prices for gasoline.
The department monitors wholesale pricing on hundreds of products, but the agency does not offer analysis on those price movements.
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