Wholesale inflation falls slightly in July, but prices remain at multi-decade high
Inflation at the wholesale level cooled in July, although prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households
The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 9.8% in July from the previous year. On a monthly basis, prices actually fell by 0.5%.
Both of those figures are lower than the 10.4% annual and 0.2% monthly estimates from Refinitiv economists.