More signs this morning the rate of inflation is slowing but prices are still at multi-decade highs.
The Producer Price Index, out minutes ago, came in at 9.8 percent for July. That is significantly lower than June’s 11.3 percent and well below expectations as well.
On a monthly bases, prices fell by half a point.
The Producer Price Index measures prices paid at the wholesale level, before they are passed along to consumers.
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