Wholesale prices were flat in July, below expectations for 0.2% increase
Core producer prices rose 0.2% in July, while the annual rate eased to 4.7%, bolstering bets the Federal Reserve will hold rates steady.
- On Wednesday, the Bureau of Labor Statistics reported wholesale prices remained flat in July, falling below Dow Jones consensus expectations and providing an encouraging sign for inflation.
- At its July meeting, the Federal Open Market Committee voted 9-3 to keep the benchmark rate at 3.5% to 3.75%, with three officials including Dallas Fed Lorie Logan dissenting in favor of a hike.
- Headline producer prices increased 4.7% year-over-year while the core figure rose 4.2%, leaving inflation above the Federal Reserve's 2% target; core producer prices rose 0.2% in July.
- Figures from the CME Group's Fed Watch tool showed market confidence in a rate hold climbed to 67.9% from 59.4% the previous day, signaling investor expectations shifted sharply.
- Cleveland Federal Reserve president Beth Hammack and Fed President Neel Kashkari argue additional policy action may be necessary, with Hammack claiming a "potential series of small policy moves would be better than waiting.
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Top Markets Commentator: July Inflation Was “Definitely Better Than Expected.” Will the Fed Cut Rates?
July wholesale prices surprised nearly every economist on Wall Street, and now traders are recalculating the odds on Federal Reserve action before year-end. CNBC's Rick Santelli broke down the numbers live from the CME floor, and the implications for rate cuts are hard to ignore.
Here are the inflation numbers the media doesn’t want you to see...
Left-wing media wants you to believe that inflation is out of control. The Trump Administration says that inflation is actually slowing. So, who do you believe? Well, in this case, definitely the Trump Administration. Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead. The Labor Department’s producer price ind…
US wholesale inflation slows to 4.7% in July: What comes next for Fed, consumers
In July, wholesale prices in the United States exhibited a cooling trend, providing a much-needed breath of fresh air. The decline in energy costs significantly reduced producer price pressures throughout the month. While consumer inflation also saw a slight dip, financial constraints persist for many households. Notably, wholesale inflation excluding food and energy showed improvement year-on-year.
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