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September 01, 2020 1:28pm
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Wholesale inflation unexpectedly falls 0.1% in February

The price producer index unexpectedly dropped in February, evidence that high inflation is beginning to ease, the Labor Department reported on Wednesday.

Inflation at the wholesale level posted a surprise decline in February, a sign that painfully high consumer prices are beginning to loosen their stranglehold on the U.S. economy.

The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, fell 0.1% in February from the previous month. On an annual basis, prices are up 4.6%.

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

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