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September 01, 2020 1:28pm
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Wholesale inflation cools more than expected in December

The Labor Department said Wednesday the producer price index moderated in December, a sign that price pressures in the economy are beginning to abate.

Inflation at the wholesale level moderated more than expected in December, providing evidence that prices pressures within the U.S. economy are continuing to gradually fade.

The Labor Department said Friday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, fell 0.1% in December from the previous month. On an annual basis, prices remain up 1% – up slightly from the 0.8% recorded in November.

Those figures are both lower than the 0.1% monthly gain and 1.3% annual figure predicted by Refinitiv economists.

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

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