US Wholesale Prices Show Further Deceleration, Indicating Easing Inflationary Pressures


Wholesale prices in the United States continued to decelerate, signaling a reduction in inflationary pressures. The government's producer price index rose by only 0.1% from June 2022, the smallest increase since August 2020. This follows a slowdown in consumer price inflation, driven by easing prices for gasoline, airline fares, used cars, and groceries. Despite the positive data, the Federal Reserve is still expected to raise its benchmark interest rate, although it may reconsider future rate hikes if inflation continues to cool.

Read more from AP News ▶

Previous
Previous

Energy Information Administration Report Predicts Oil Price Increase and Growth in Renewable Diesel Production

Next
Next

Canadian West Coast Ports Strike Disrupts U.S. Freight Rail Cargo, Triggering Supply Chain Concerns