During the month, manufacturing prices dropped 6.6% on an annual basis, while mining prices fell 2.1%. Price of utilities were down 2.4%. Among the industrial groups, energy showed the steepest drop in prices, by 21.8%.
Month-on-month, producer prices slipped 0.2% in May compared to a 0.5% drop in the preceding month. Economists expected prices to rise 0.1%.
In the first five months of the year, producer prices were down 3.8% compared to the same period of the previous year.
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