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 WASHINGTON (AP) - Wholesale prices fell by the largest amount in more than two years in May, helping to ease concerns that a big spike in energy costs earlier in the year might spell inflation troubles.
Meanwhile, May retail sales tumbled for the first time in nine months, a decline that was blamed on unusually cool weather during the month and not seen as evidence that consumer spending, the engine that drives the economy, was threatening to sputter out.
The Labor Department reported Tuesday that wholesale prices fell by 0.6 percent last month with three-fourths of the drop attributed to falling energy prices. Foods costs also fell during the month, thanks to a big drop in vegetable prices.
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