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The Producer Price Index for finished goods slipped down at an annualized rate of 3.3 percent in May after a 1.3 percent decrease in April. On a year-over-year basis, the index ticked down from 5.4 percent to 5.1 percent in May. Energy and foods prices contributed to the overall decline during the month, falling 16.8 percent and 7.5 percent, respectively. Excluding those prices, the “core” PPI rose 2.8 percent in May—matching April’s gain—pushing its 12-month growth rate up 0.4 percentage point to 1.3 percent. Further upstream, pricing pressures were mixed, as core intermediate goods prices rose 3.4 percent, while core crude goods fell 17.2 percent.