The Bureau of Labor Statistics reported on Tuesday that wholesale inflation increased by 0.2% in October
which was less than expected and another indication that price increases throughout the economy are starting to slow down.
Prices decreased by 0.2% for the month, versus forecasts for a 0.4% decline, bringing the annual rate of increase down from 8.4% in September to 8%.
In contrast to the 0.3% increase a month earlier, wholesale prices increased by 0.2% when volatile food and energy costs were excluded.
Core wholesale inflation increased by 5.4% for the year. The index for retailing of fuels and lubricants fell 7.7 percent in October
which was a significant contributor to the decrease in prices for final demand services,
according to the report. Additionally, there was movement in the indexes for portfolio management, long-distance motor carrying, partial auto retailing
The Fed is expected to raise rates by 50 basis points when it meets in early December, according to the majority of observers.
According to a consumer survey conducted by the Federal Reserve Bank of New York and released on Monday
Americans' concerns about inflation increased in the wake of an increase in gasoline prices in October.
The anticipated rate of inflation for the upcoming year increased to 5.9%, up 0.5% from September and at its highest level since July.
In recent months, the price of housing and used cars are just two items whose inflationary rise has slowed.
According to Steve Preston, CEO of Goodwill Industries International, "the market is not quite as hot, but it is still pretty hot."
He mentions that according to surveys conducted by Goodwill, more than half of job seekers discover positions that they are interested in, but they lack the necessary qualifications.
In addition to helping employers find employees, Goodwill also offers support and training to those who may be unemployed for a variety of reasons.