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Wholesale prices blip up 0.1% in May

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WASHINGTON (AP) — U.S. wholesale prices rose just 0.1% in May month, another sign that inflation remains under control.

The Labor Department says the increase last month in its producer price index, which measures inflation pressures before they reach consumers, was half April’s 0.2% increase.

The entire gain in May came from a 0.3% increase in the wholesale price of services. Goods prices fell 0.2%.

Over the past year, producer prices have risen 1.8%. Excluding the volatile food and energy categories, wholesale prices rose 0.2% in May from April and 2.3% from May 2018.

Inflation remains tame, enabling the Federal Reserve to stop raising interest rates after four hikes in 2018. Investors increasingly expect the Fed to cut rates amid signs the U.S. and world economies are decelerating.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
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