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.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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