The Labor Department said Wednesday that its producer price index, which measures <a href="https://www.foxbusiness.com/category/inflation" target="_blank">inflation at the wholesale level</a> before it reaches consumers, tumbled 0.5% in October from the previous month. On an annual basis, prices remain up 1.3%.

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The Labor Department said Wednesday the producer price index tumbled 0.5% in October, evidence that price pressures in the economy are beginning to abate.{ai:summary}Labor Dept reports that producer price index fell 0.5% in Oct, although prices are up 1.3% YoY. #economy

Wholesale inflation unexpectedly tumbles 0.5% in October, biggest drop in 3 years

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