Wholesale inflation heated up again last month, reversing recent progress
CNN
US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level.
US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.2% on a monthly basis and 2.4% for the 12 months ended in October, marking an acceleration from September, when prices ticked up 0.1% for the month and grew 1.9% annually, according to Bureau of Labor Statistics data released Thursday. Economists were expecting prices to increase, in large part due to comparisons to this time last year (base effects), when wholesale inflation slowed sharply and even registered outright price declines. Additionally, the overall index wasn’t benefited as much by falling energy prices, which dropped off by just 0.3% in October versus 2.8% in September. Still, one potential favorable sign for inflation-weary consumers: Wholesale food prices dropped 0.2% for the month. In September, they shot up by 1%, the largest monthly gain since February. FactSet consensus forecasts called for a 0.2% monthly gain and for the annual rate to heat up to 2.3%.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
London’s Heathrow Airport is hoping to get travelers into the holiday mood this summer with a soundtrack of real-life jet engines, lift dings and baggage sirens.
Grok, the chatbot created by Elon Musk’s xAI, began responding with violent posts this week after the company tweaked its system to allow it to offer users more “politically incorrect” answers.
Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal.
Since the start of the century, the number of journalists working in the United States has declined by more than 75 percent, according to the study.
President Donald Trump sent out a slew of letters Wednesday to some global trading partners, advising them of tariff levels as high as 50% for their exports to the United States.
When the very first Olive Garden opened in 1982 near Orlando, it was a disaster.
It might not come as a shock if you have eyes, but the Cybertruck is, officially, a flop.
With just five days remaining in the tariff moratorium, the White House is expected to begin delivering a message to a dozen or so countries: Time is up, and here’s your new rate.
Unemployment among Black Americans last month reached its highest level in more than three years, in stark contrast to the broader labor market’s stunning resilience.
New York City frontrunner for mayor Zohran Mamdani has an ambitious agenda to tackle the city’s housing crisis. But the spiraling costs to develop affordable housing, President Donald Trump’s efforts to gut federal housing aid and other obstacles may derail his goals.
As Americans celebrate 249 years of independence with fireworks and barbecues, many businesses will be closed for the day.
Every Fourth of July, starting when she was 15, Jacqueline Lewis and her family come together to honor a great American tradition: the Nathan’s Famous hot dog eating competition.