US Wholesale Prices Drop

A decline in the price of food and energy has pushed wholesale prices down for the second straight month, falling 0.3 percent in May. Core inflation, which excludes energy and food, posted a 0.2 per cent increase.

Because inflationary pressures remain benign, it is expected that the Federal Reserve will continue its low interest rate policy. Analysts agree that rates will remain in the historically-low range of 0 to 0.25 percent until employment levels improve and the economy shows greater growth.

Source: Associated Press

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