According to the Producer Price Index, decreasing energy prices have helped push the U.S. wholesale inflation rate below pre-pandemic levels.
Bureau of Labor Statistics data signaled that wholesale inflation only grew .9% during the 12 months ending in November, compared to the 1.2% inflation rate seen for the 12 months ending in October.
This marks the second-lowest wholesale inflation rate registered this year.
“Declining goods demand and a slowing economy will keep a lid on the index over the balance of the year and should keep goods price inflation on a downward trend,” Oxford Economics economist Matthew Martin said Wednesday.
