Wholesale prices surprisingly fell slightly in August, providing breathing room for the Federal Reserve to approve an interest rate cut at its meeting this month, according to a Bureau of Labor Statistics report Wednesday.
The producer price index, which measures input costs across a broad array of goods and services, fell 0.1% for the month, after a sharp increase in July and well off the Dow Jones estimate for a 0.3% increase.
Core PPI, which excludes volatile food and energy prices, also was off 0.1% after being expected to increase 0.3% as well.
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