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.
—Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
