WASHINGTON — The index for finished consumer foods fell 1.4% in May, the largest decrease since a 2.4% drop in June of last year, according to the Producer Price Index report issued by the U.S. Department of Labor on Tuesday.
Almost 40% of the May decline was due to drops in the prices for fresh and dry vegetables, which were down 12.2%.
In addition, the index for "crude foodstuffs and feedstuffs" decreased 4.4% in May, with about a third of that decline attributable to a 5.8% decrease in the index for slaughter steers and heifers. Lower prices for slaughter hogs also contributed to the fall in the crude foodstuffs and feedstuffs index, the Labor Department said.
