U.S. wholesale prices see biggest drop in three years

WASHINGTON, April 14 (Xinhua) -- The U.S. producer price index, which measures wholesale prices, took the biggest plunge that it's seen in nearly three years.

The index dropped 0.5 percent in March, according to Labor Department figures published this week.

The move beat Wall Street estimates that had predicted prices to remain unchanged, amid the worst inflation in decades.

The slide is the largest since the start of the COVID-19 pandemic in the first months of 2020.

The cost of wholesale goods can be an indicator of inflation in the months ahead.

The cost of wholesale goods sank to 2.7 percent from 4.9 percent in the previous month during the same period a year ago.