Wholesale prices are still rising more slowly than consumer costs, a sign that inflation may continue to cool as the weaker wholesale price gains translate into smaller price increases for the consumer.
Yet excluding the volatile energy and food components, core inflation fell to 4.3% in August from 4.7% in July.
On a month-to-month basis, wholesale prices rose 0.7% in August, the biggest gain in more than a year, up from a 0.4% increase in July.
Core wholesale prices ticked up 0.2% last month, down from 0.3% in July.
Wholesale inflation year-over-year has also fallen fast, from a peak of 11.7% in March 2022.
Organizations:
WASHINGTON, —, Federal Reserve, Labor Department