Producer Prices Fell In July

“Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation,” CNBC reports.

“The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the month after Covid-19 was declared a pandemic. Economists surveyed by Dow Jones had been expecting an increase of 0.2%.”