Rome

Producer prices down 1% in May

Third straight drop in latest sign recession worsening

Producer prices down 1% in May

Rome, June 28 - Italian producer prices fell for the third straight month in May in the latest sign that Italy's longest recession in over 20 years is deepening, Istat said Friday. Prices were down 1.0% year-on-year and 0.1% month-on-month, the statistics agency said. Manufacturing of coke and refined oil products showed the biggest annual drop, down 4.4% domestically and 7.2% abroad.

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