CREDIT: (Photo by Li Jianguo/Xinhua) (Photo by Xinhua/Sipa USA)
U.S.-CPI-INFLATION
WASHINGTON (AP) — Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy’s inflationary pressures cooled last month. Thursday’s report from the Labor Department showed that the producer price index — which measures inflation before it reaches consumers — declined 0.5% in July. It was the first monthly drop since April 2020 and was down from a sharp 1% increase from May to June. The easing of wholesale inflation suggests that consumers could get some relief from relentless inflation in the coming months.
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