Wholesale Inflation Cools Slightly but Remains Elevated, Associated Press Reports
Wholesale inflation cooled a bit last month yet remained elevated, according to a report credited to the Associated Press and published by The Hill.
WASHINGTON - Wholesale inflation cooled a bit last month yet remains elevated, according to a report published by The Hill and credited to the Associated Press. The Associated Press reported that the Labor Department's producer price index, which captures inflation before it reaches consumers, rose 0.3%.
The Associated Press described the elevated prices as "stubbornly higher prices" that have soured Americans on the economy. It also reported that the higher prices had fueled big gains for Democrats in the midterm elections held last week.
The Hill's version of the Associated Press report presents the figures as evidence of higher prices, but the text available for this story ends before it states the period against which the 0.3% increase was measured.
The same text does not quantify how much wholesale inflation cooled, so the size of the slowdown cannot be determined from the material available here. The Hill's version of the report also does not include any statement from the Labor Department beyond the producer price index figure.
Because only The Hill's version of the Associated Press report was provided for this story, no other outlet's account of the producer price index is included. The Associated Press summary links the price data to public views of the economy and to the outcome of the midterm contests, and those connections are reported here as the Associated Press stated them.
Sources: The Hill: Wholesale inflation declined last month yet remains stubbornly elevated.