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Wednesday, Apr 24, 2024

Wholesale prices drop more than expected in July

WASHINGTON — Wholesale prices dropped sharply in July, and over the past 12 months fell by the largest amount in more than six decades of record-keeping. The Labor Department said Tuesday that wholesale prices dropped 0.9 percent last month. That’s triple the decline economists had expected and was driven by big decreases in both energy and food costs. Over the past 12 months, the prices of goods before they reach store shelves fell 6.8 percent. For the full story click here

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