Gas price drop drags April PPI down 0.2% (by Steve Goldstein)

WASHINGTON (MarketWatch) -- A drop in gasoline prices dragged producer prices down a seasonally adjusted 0.2% in April to mark the biggest decline since October, according to data released Friday by the Labor Department. The unadjusted 12-month rise of 1.9% was the weakest since October 2009. Excluding food and energy, core producer prices edged up 0.2% as prices for pharmaceuticals and civilian aircraft rose. That marks the second month in a row where core prices exceeded the headline rate. Economists polled by MarketWatch had anticipated a 0.1% drop in producer prices and a 0.2% gain for core wholesale prices.