Wholesale prices decline, PPI shows, and hint at easing U.S. inflation
The numbers: U.S. wholesale prices fell 0.1% in February — the second decline in three months — and hinted at some easing in stubbornly high inflation.
Economists polled by The Wall Street Journal had forecast a 0.3% increase in the producer price index. Wholesale costs often herald future inflation trends. Key details: The wholesale cost of goods fell last month, led by the third straight decline in food prices. That’s likely to lead some relief for consumers at the grocery store in the months ahead.
Yet prices are still rising too fast to mollify the Fed, never mind thousands of businesses and millions of households grappling with high inflation.
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