Wholesale Prices Fall in July in Another Sign Inflation May Have Peaked – By Tim Smart (US News) / Aug 11, 2022
The drop reflects the sharp decline in gasoline prices.
The news on inflation keeps getting better.
On Thursday, the Bureau of Labor Statistics reported that wholesale inflation – the prices businesses pay that are later passed on to consumers – fell by 0.5% in July after a 1% increase in June.
On an annual basis, the rise came to 9.8%, down significantly from the 11.3% increase in June.
The drop reflects the sharp decline in energy prices over the past month, which has seen the cost of a regular gallon of gasoline fall by more than $1 to a national average now below $4.
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