Core Wholesale Prices Rise in August; Fed Rate Cut Still Expected

Posted by Roy Francis | Sep 13, 2024 | One America News Network | 0 |

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OAN’s Alicia Summers
12:16 PM – Friday, September 13, 2024

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. Core prices have increased 3.3% over the past year, well above the Fed’s target. Rising food, energy, and shelter costs remain a concern. The Fed is expected to cut interest rates by at least a quarter percent next week. Octavio Marenzi, CEO of Opimas discuss whether inflation is under control or if underlying issues persist, particularly with high shelter and rent prices possibly linked to increased demand from illegal immigration.