Wholesale prices rose 0.2% in October, less than expected, as inflation eases
The producer price index was expected to show a monthly increase of 0.4% in October, according to Dow Jones estimates.
The producer price index was expected to show a monthly increase of 0.4% in October, according to Dow Jones estimates.
The three biggest inputs for the consumer price index, the most widely followed measure of inflation, are food, energy and shelter.
The trouble is, the Fed's likely to get a recession anyway as data shows the economy is a far cry from stable.
Federal Reserve Chairman Jerome Powell on Friday reiterated the central bank's commitment to bringing down inflation.
Federal Reserve officials rolled out strong language Friday to describe their approach to inflation, promising a full-fledged effort to restore price stability.
The Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through inflation and away from recession.
Talk of a recession has accelerated this year as inflation remains high and the Federal Reserve takes aggressive steps to counter.
Experts argue that monetary policies have limits on what they can achieve against an impending recession.
Advance retail and food service spending fell 0.3% for the month, below the Dow Jones estimate for a 0.1% gain.