INSUBCONTINENT EXCLUSIVE:
US producer prices dropped by most in more than two years in December as cost of energy products and trade services fell, adding to signs of
tame inflation that may allow Federal Reserve to be patient about raising interest rates this year.
Other data on Tuesday suggested
manufacturing activity slowed further at start of year, with a measure of business confidence in New York State tumbling to more than a
an even longer pause given absence of an acceleration in inflation, past tightening in financial market conditions, slowing in global
Pennsylvania.
The Labor Department said its producer price index for final demand dropped 0.2 per cent last month after edging up 0.1 per
That was first decline since February 2017 and largest decrease since August 2016.
