U.S. wholesale prices fell 0.5% in October; largest drop since April 2020
Headline from UPI
U.S. wholesale prices posted their largest drop in more than three years last month, according to data shared by the Bureau of Labor Statistics on Wednesday.
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The producer price index showed its first decline since May and its biggest drop since 2020—a sign that prices are cooling before they reach consumers.
U.S. wholesale prices posted their largest drop in more than three years last month, according to data shared by the Bureau of Labor Statistics on Wednesday.
WASHINGTON — U.S. wholesale prices fell sharply last month as inflationary pressure continued to ease after a year and a half of higher interest rates. The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — dropped 0.
The Labor Department said Wednesday the producer price index tumbled 0.5% in October, evidence that price pressures in the economy are beginning to abate.
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U.S. wholesale prices fell 0.5% in October; largest drop since April 2020 | Since Then
