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  • Aug 13, 2024

Gold Swings as US Inflation Readings Fall Short of Forecasts

(Bloomberg) -- The price of gold fluctuated between gains and losses after US inflation data came in lower then expected, potentially supporting the case for rate cuts by the Federal Reserve.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceGottheimer Calls for Rail Riders to Be Reimbursed for DelaysJohannesburg Mayor Quits Amid

  • Aug 13, 2024

US wholesale inflation cooled in July in sign that price pressures are continuing to ease

Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month. The Labor Department reported Tuesday that its producer price index — which tracks inflation before it reaches consumers — rose 0.1% from June to July. The July wholesale figures reflect a broad and steady slowdown in price increases, which peaked at a four-decade high in mid-2022 but are now moving toward the Fed's 2% inflation target.

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