Wholesale price increases in the United States picked up slightly in July yet still suggested that inflationary pressures have eased this year since reaching alarming heights in 2022.
The Labor Department reported Friday that its producer price index — which measures inflation before it hits consumers— rose 0.8% last month from July 2022. The latest figure followed a 0.2% year-over-year increase in June, which had been the smallest annual rise since August 2020.
