{"id":11303,"date":"2023-11-15T20:20:12","date_gmt":"2023-11-15T14:50:12","guid":{"rendered":"https:\/\/farratanews.online\/wholesale-inflation-unexpectedly-tumbles-0-5-in-october-biggest-drop-in-3-years\/"},"modified":"2023-11-15T20:20:12","modified_gmt":"2023-11-15T14:50:12","slug":"wholesale-inflation-unexpectedly-tumbles-0-5-in-october-biggest-drop-in-3-years","status":"publish","type":"post","link":"https:\/\/farratanews.online\/wholesale-inflation-unexpectedly-tumbles-0-5-in-october-biggest-drop-in-3-years\/","title":{"rendered":"Wholesale inflation unexpectedly tumbles 0.5% in October, biggest drop in 3 years"},"content":{"rendered":"

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UBS managing director and senior portfolio manager Jason Katz analyzes the October CPI report that shows inflation slowing more than expected on ‘Varney & Co.’<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Inflation at the wholesale level posted a surprise decline in October, the latest sign that high consumer prices are beginning to loosen their stranglehold on the U.S. economy.<\/p>\n

The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level<\/u> before it reaches consumers, tumbled 0.5% in October from the previous month. On an annual basis, prices remain up 1.3% \u2013 a sharp drop from the 2.2% recorded in September.<\/p>\n

In another sign that suggests high inflation is beginning to dissipate, core prices \u2013 which exclude the more volatile measurements of food and energy \u2013 were unchanged for the month. That is lower than both the 0.3% estimate and the reading recorded last month.\u00a0<\/p>\n

FED’S POWELL WARNS SLOWER ECONOMIC GROWTH MAY BE NEEDED TO COOL HIGH INFLATION<\/u><\/strong><\/p>\n