Wholesale prices in the United States dropped 0.3% from April to May, another sign that inflationary pressures continue to ease in the face of repeated interest rate hikes by the Federal Reserve.
File - Stacks of clothing are shown on display in a Costco warehouse Wednesday, Sept. 28, 2022, in Thornton, Colo. On Wednesday, the Labor Department releases the producer price index for May, an indicator of inflation at the wholesale level. File - Stacks of clothing are shown on display in a Costco warehouse Wednesday, Sept. 28, 2022, in Thornton, Colo. On Wednesday, the Labor Department releases the producer price index for May, an indicator of inflation at the wholesale level.
The Labor Department’s producer price index — which measures inflation before it reaches consumers — rose 1.1% last month from May 2022, it said Wednesday, the smallest year-over-year gain since December 2020.
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