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US wholesale prices sink in September, PPI shows, and point to low inflation ahead
The wholesale cost of U.S. goods and services posted the steepest decline in September since the first month of the year, largely reflecting lower gasoline prices and signaling that inflation is likely to remain low. The producer price index sank 0.3% last month, reversing most of the increase in the prior two months. Economists polled by MarketWatch has forecast a 0.1% gain. The increase in wholesale inflation over the past 12 months, what’s more, slid to 1.4% from 1.8%, marking the lowest level in almost three years. Similarly, a more closely followed measure that strips out volatile food, energy and trade-margin ... (full story)