Wholesale price increases fell in May, the latest sign that inflation pressures in the United States may be easing as the Federal Reserve considers a timetable for cutting interest rates
Wholesale price increases fell in May, the latest sign that inflation pressures in the United States may be easing as the Federal Reserve considers a timetable for cutting interest rates.
The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — declined 0.2% from April to May after rising 0.5% the month before, pulled down by a 7.1% drop in gasoline prices. Overall, it was the biggest drop in producer prices since October.
Measured from a year earlier, wholesale prices were up 2.2% last month, edging down from a 2.3% increase in April. Excluding volatile food and energy prices, so-called core producer prices were unchanged from April and up 2.3% from May 2023.
Wholesale food prices dropped 0.1% from April to May.
