Oddbean

U.S. wholesale inflation rose in June, sign that price pressures remain elevated ========== Wholesale prices in the United States rose by a larger-than-expected 2.6 percent last month from a year earlier, the sharpest year-over-year increase since March 2023. The increase in wholesale inflation was driven by a 0.6 percent rise in services prices, led by higher profit margins for machinery and auto wholesalers. Overall prices of goods fell 0.5 percent, with gasoline prices tumbling 5.8 percent. The producer price index can provide an early sign of where consumer inflation is headed. The recent price figures suggest a continued slowdown in inflation, but costs of necessities remain higher than before the pandemic. The Federal Reserve is expected to begin cutting interest rates in September to lower borrowing costs and boost the economy. #UsWholesaleInflation #PricePressures #ConsumerInflation #FederalReserve https://www.pbs.org/newshour/economy/us-wholesale-inflation-rose-in-june-sign-that-price-pressures-remain-elevated