The Labor Department’s August Producer Price Index shows a 0.2% increase in wholesale prices, meeting expectations, but core wholesale prices rose 0.3%, reversing a previous decrease.
U.S. business activity fell to a 4-month low in August and firms continued to struggle to pass on higher prices to consumers.
A U.S. judge temporarily blocked the launch of a new sports streaming service backed by three media giants, Walt Disney, Fox and Warner Bros Discovery.
In an exclusive interview, Congressman James Comer warns PBM’s, or pharmacy benefit managers, are creating less competition in the pharmacy industry and probably should be broken up to bring drug prices down.
Costco announced on Wednesday that it will be raising its membership fees at the start of September, leading to its first price hike since 2017.
The mixed survey also showed consumers’ perceived likelihood of a recession over the next 12 months retreated this month.
For the third straight month, sales of previously occupied U.S. homes fell in May as increasing mortgage rates and record-high prices discourage many potential homebuyers during what’s typically the housing market’s busiest period of the year.
U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.
As struggling businesses reduce labor expenses and boost prices to counteract wage hikes, fast food restaurants in California have eliminated over 10,000 jobs as a result of the state’s new $20 minimum wage, according to a trade group that reported the findings on Thursday.
The producer price index released today shows a surge in wholesale prices, the highest in a year according to the Bureau of Labor Statistics, sparking concerns about inflationary pressures and broader implications.