Wholesale prices fell 0.6 percent in May, the biggest decline in more than two years, as the cost of energy and food retreated.
The Labor Department reported Tuesday that the decline in its Producer Price Index followed gains of 0.6 percent in April and 0.7 percent in March, increases that had raised worries about inflation.
In other economic news, the Commerce Department reported that retail sales fell by 0.5 percent in May, the first decline in nine months. The drop, which followed a huge 1.5 percent increase in April, reflected a decrease in auto sales and lower prices for gasoline.
