US Producer Prices Unexpectedly Drop, First Decline Since April
A worker operates a forklift at a fulfillment center in Elizabeth, New Jersey.
Photographer: Eilon Paz/BloombergUS wholesale inflation unexpectedly declined in August for the first time in four months, adding to the case for the Federal Reserve to cut interest rates.
The producer price index decreased 0.1% from a month earlier and July’s figure was revised down, according to a Bureau of Labor Statistics report out Wednesday. From the year before, the PPI rose 2.6%.