Gold prices traded higher Wednesday morning after data showed U.S. wholesale prices eased in May, providing another sign that inflation pressures are abating...
Gold prices traded higher Wednesday morning after data showed U.S. wholesale prices eased in May, providing another sign that inflation pressures are abating in the face of the Federal Reserve’s monetary tightening campaign.
Price ActionWhat’s happening Data... Gold prices traded higher Wednesday morning after data showed U.S. wholesale prices eased in May, providing another sign that inflation pressures are abating in the face of the Federal Reserve’s monetary tightening campaign. Price Action What’s happening Data released Wednesday morning showed U.S. annual wholesale prices increased by only 1.1% for the 12 months ended in May from 2.3% in the prior month, the Labor Department reported Wednesday. That’s the lowest reading since December 2020.
Stripping out volatile food and energy prices, the data showed that core inflation was flat last month and in line with expectations.
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