A key inflation gauge showed price hikes slowed last month. But economic jitters remain
CNN
US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. That sets the stage for an even more crucial reading on price hikes due out Wednesday.
US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. That sets the stage for an even more crucial reading on price hikes due out Wednesday. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, was 2.2% for the 12 months ended in July, a stark pullback from the 2.7% increase registered in June, according to Bureau of Labor Statistics data released Tuesday. On a monthly basis, prices rose 0.1%, a slower pace than the 0.2% increase seen in June. Economists had expected that prices would increase 0.2% on a monthly basis and slow to 2.3% annually, according to FactSet estimates. PPI serves as a potential bellwether for retail-level inflation in the months ahead. On Wednesday, the BLS will release the Consumer Price Index for July, providing a critical look at how prices are changing for consumers in their everyday lives. This story is developing and will be updated.
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