Benzinga
Benzinga
  • 3 months ago
US wholesale inflation rose by ten basis points in July, a decline from June, suggesting inflation pressures are easing. Year-over-year wholesale inflation was up more than 2% in July, the smallest increase since March. Prices in the US service sector fell in July, while goods prices rose due to increased gasoline prices. Excluding food and energy, core wholesale prices were unchanged, indicating milder inflation pressures than expected. The Fed has aggressively raised interest rates to fight high inflation and is expected to begin cutting rates in September to support the economy.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02U.S. wholesale inflation rose by 10 basis points in July,
00:06a decline from June suggesting inflation pressures are easing.
00:10Year over year, wholesale inflation was up more than 2% in July, the smallest increase since March.
00:15Prices in the U.S. service sector fell in July, while goods prices rose
00:19due to an increase in gasoline prices. Excluding food and energy,
00:23core wholesale prices were unchanged, indicating milder inflation pressures than expected.
00:29The Fed has aggressively raised interest rates to fight high inflation and is expected to begin
00:34cutting rates in September to support the economy. For all things money, visit Benzinga.com.

Recommended

0:49
I
Up next
Inflation Eases, Wages Rise
Benzinga
0:38
Federal Reserve Successfully Navigates 'Soft Landing' for Economy, As Inflation on the Decline
Benzinga
0:35
Annual inflation in Turkey up to almost eight percent
euronews (in English)
0:33
U.K. Inflation Falls To 1.7% in Sept, Spurs Hopes For BOE Rate Cut
Benzinga
3:24
No retreat in the summer heat. Inflation blistering at 9.1% in June - 1breakingnews.com
1BN
1:30
Inflation Surge Continues as US Hits 4-Decade High of 6.1% in January
Wibbitz Top Stories
0:33
Fed Expected to Keep Interest Rates High as Optimism Remains High for September Rate Cuts
Benzinga
1:59
What PPI Does and Doesn't Say About Inflation
The Street
0:42
October Inflation Rate Rises To 2.6% As Expected: December Interest Rate Cut Remains Uncertain
Benzinga
1:52
Prices tipped to fall further putting downward pressure on inflation
ABC NEWS (Australia)
1:46
S. Korea's consumer prices unchanged in October
Arirang News
0:44
US Economic Growth Revised Down to 1.3% in Q1, Consumer Spending Slows
Benzinga
3:04
Inflation May Get Much Worse This Summer—And Could Linger 'Many Years'—Experts Warn - 1breakingnews.
1BN-RADIO
32:15
10 Tak: Why common man surrendering in front of inflation?
Aaj Tak
1:31
Federal Reserve Announces Pause On Rate Hikes Amid Easing Inflation
Wibbitz Top Stories
0:34
UK Inflation at Lowest Point Since September 2021, Coming in at 3.4% YoY in February
Benzinga
0:48
US Oil Prices Surge Above $90 a Barrel, Threatening Inflation and Gasoline Prices
Benzinga
1:58
US Fed pauses rate hikes, but warns inflation risks persist
The Star
0:32
Inflation Rate Nears Fed's 2% Target In September Following Rate Cuts
Benzinga
1:26
Budget Explained: Deflation and Disinflation
Deccan Herald
1:31
Key Inflation Rate Hits Lowest Annual Level in Almost 2 Years
Wibbitz Top Stories
0:46
Eurozone Headline Inflation Jumps to 2.6% in July as European Central Bank Maintains Flexible Approach
Benzinga
2:54
Inflation likely hit fever pitch in June with consumer prices surging again - 1breakingnews.com
1BN-RADIO
0:40
Turkey's Inflation Rate Surges to an Alarming 70%, Central Bank Implements Massive 50% Rate Hike
Benzinga
0:36
Fed Chair Jerome Powell Hints at Possible Interest Rate Cut in September
Benzinga