U.S. wholesale inflation dropped unexpectedly last month by 0.1% from July, the Associated Press reports.
The Labor Department’s producer price index — which tracks inflation in the supply chain before it reaches consumers — showed a deceleration in wholesale inflation in August after a 0.7% climb in July.
Compared to one year earlier, producer prices in August rose 2.6%.
So-called “core” producer prices, which exclude volatile food and energy prices, also fell 0.1% from July and were up 2.8% from a year earlier.
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The numbers were lower than economists had forecast.
