After months and months of stubborn inflation crushing the mood of investors and consumers alike, government data show prices may finally be stabilizing. Wholesale prices fell sharply in October, their largest monthly decline since COVID-19 forced travel restrictions and business closures in April 2020.
Wall Street was quick to celebrate the news, with many arguing it’s another sign that the Federal Reserve’s 20-month-long interest rate hiking campaign is slowly taming inflation. “We got more Goldilocks today,” David Russell, global head of market strategy at TradeStation, said of the data.
