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By some measures, prices are now officially falling.
On most measures, prices are still 10%to15%5% below their previous peak".
The index measures prices paid to factories, farmers and other producers.
It measures prices compared with those in January 2000 and creates a three-month moving average.
The S.& P./Case-Shiller index, which measures prices in 20 major metropolitan areas, declined 0.4percentt in June.
The Producer Price Index, which measures prices paid to farms, factories and refineries, dropped 0.3percentthethe Labor Department said.
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The index measures price changes before they reach the consumer.
The Labor Department said that the Producer Price Index, which measures price changes before they reach the consumer, rose 0.8 percent last month.
Some economists said they were surprised that the Fed was not more concerned about inflation, given that by most measures price increases accelerated this year.
The Producer Price Index, which measures price changes before they reach consumers, rose 1.1 percent in December, up from a 0.8 percent rise in November.
The producer price index, which measures price changes before they reach the consumer, fell a seasonally adjusted 0.7 percent in April from March, the Labor Department said Wednesday.
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