US wholesale prices up tiny 0.1% in August

WASHINGTON (AP) — U.S. wholesale prices edged up a slight 0.1% in August as energy prices took a big plunge, a further sign that inflation is remaining tame.

The Labor Department said Wednesday that the gain in its producer price index, which measures inflation pressures before they reach the consumer, followed a modest 0.2% rise in July. Core inflation, which excludes food and energy, rose a stronger 0.3%.

After bigger gains in April and May, driven by a surge in energy costs, wholesale inflation has returned in the past four months to the tiny increases seen during much of this record-long economic expansion, now in its 11th year.

Given the low inflation, the Federal Reserve is expected to cut its key interest rate for a second time this year at next week’s meeting.

Associated Press

Associated Press

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