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The Producer Price Index (PPI) for finished goods fell a greater-than-expected 5.9 percent (annualized) in June, owing to a sharp 23.2 percent drop in consumer foods and a modest decline in energy prices. June marks the third straight decline in headline producer prices, causing year-over-year growth in the index to weaken from 5.3 percent to 2.8 percent. The core PPI, which excludes the fickle food and energy prices, advanced 0.7 percent in June, its smallest increase in three months. Year-over-year growth in the core index softened from 1.3 percent to 1.1 percent, staying roughly in-line with its path since last November. Further back in the production line, pricing pressures were on the downside, as core intermediate goods prices dropped 4.5 percent and core crude goods prices took a 44 percent fall.