Wholesale inflation falls slightly in July, but prices remain at multi-decade high


Inflation cools in July as headline figure drops to 8.5%

Inflation eases as July CPI drops to 8.5 percent. FOX Business’ Cheryl Casone discusses the latest.

Inflation at the wholesale level cooled in July, although prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households 

The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 9.8% in July from the previous year. On a monthly basis, prices actually fell by 0.5%.

Both of those figures are lower than the 10.4% annual and 0.2% monthly estimates from Refinitiv economists.

This is a developing story. Please check back for updates.

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