WASHINGTON — The biggest drop in food costs in almost three decades helped to drive down wholesale prices by 0.2 percent in April.

        The decline in the Producer Price Index, which measures prices paid to factories, farms and other producers, was a big turnaround from the 1 percent increase registered in March, the Labor Department said Friday.

        The index is an important gauge of inflation at the wholesale level — before goods reach store shelves.

        Excluding volatile food and energy prices, the “core” rate of wholesale inflation nudged up 0.1 percent for the second straight month.

        “Inflation is the least of our economic worries both right now and for the foreseeable future,” said Oscar Gonzalez, an economist with John Hancock.

        Given April's tame readings, Federal Reserve policy-makers have leeway to keep short-term interest rates at 40-year lows to help along the economic recovery, economists said. Some predicted that rates will remain unchanged into the summer or the fall. Others suggested that the Fed might hold off even longer.

        Citing uncertainties about the vitality of the recovery — the Fed decided Tuesday to hold rates steady. Fed Chairman Alan Greenspan has said the low-inflation environment means that policy-makers have the luxury of waiting to see how the recovery unfolds before boosting rates.

        For the 12 months ending April, wholesale prices fell 2 percent.

        Falling prices can offer some good deals for consumers. But for companies whose product prices are going down, it means more pressure on already pressed profit margins.

        Prices for all food items fell by 3.2 percent in April, the biggest decrease since June 1974. That drop largely reflected a record 46.5 percent plunge in vegetable prices.

        After rising 5.5 percent — a jump responsible for pushing wholesale prices up in March — energy prices increased 2.5 percent in April.

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