Reported 7 months ago
US wholesale prices fell in May, indicating a decrease in inflation pressure in the United States. The Labor Department reported that the producer price index declined 0.2% from April to May, with gasoline prices dropping by 7.1%. This decline in wholesale prices, along with a recent decrease in consumer inflation, suggests a positive outlook for a potential decline in interest rates by the Federal Reserve. Economists and analysts are optimistic about a softer inflation trend in the coming months.
Source: YAHOO