US Wholesale Inflation Sees Mild Rise in July, Shows Signs of Easing

Benzinga
Benzinga
  • 2 weeks 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.

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