You are here: Home » Reuters » News
Business Standard

U.S. producer prices record biggest drop in 11 months

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate hike.Other data on Thursday showed an increase in the number of Americans filing for unemployment benefits last week. The trend in weekly jobless claims, however, remained consistent with a tightening labor market."Another twist of the screw tighter for this labor market but inflation is not able to gain a foothold in this economy," said Chris Rupkey, chief ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, August 10 2017. 20:53 IST
RECOMMENDED FOR YOU