Wholesale Prices Unexpectedly Declined 0.1% in August, as Fed Rate Decision Looms
Wholesale prices surprisingly fell slightly in August, providing breathing room for the Federal Reserve to approve an interest rate cut at its meeting this month, according to a Bureau of Labor Statistics report Wednesday.
The producer price index, which measures input costs across a broad array of goods and services, dropped 0.1% for the month, after a downwardly revised 0.7% increase in July and well off the Dow Jones estimate for a 0.3% rise. On a 12-month basis...
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