U.S. wholesale inflation fell in July for 1st time in 2 years

Updated at 9:40 p.m.

MONEY IS exchanged at a food stand while workers wear face masks inside Grand Central Market on Wednesday in Los Angeles. Inflation at the wholesale level jumped 9.8% in July from a year earlier, a slowdown from the June pace yet still a painfully high level suggesting that rampant inflation will persist for months to come. / MARCIO JOSE SANCHEZ / ASSOCIATED PRESS
WASHINGTON (AP) – Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy's inflationary pressures cooled last month. Thursday's report from the Labor Department showed that the producer price index — which measures inflation before it reaches…

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