Wholesale prices in the United States rose 7.4% in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool.
The latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March. On a monthly basis, the government said Friday that its producer price index, which measures costs before they reach consumers, rose 0.3% from October to November for the third straight month.
The latest figures reflect an ongoing shift in inflation from goods to services. The cost of goods rose just 0.1% from October to November, with wholesale gas prices tumbling 6%.
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