"Surprising Drop in Wholesale Inflation Eases Recession Fears"

Wholesale inflation in the US unexpectedly dropped by 0.5% in October, marking the largest decline in three years, according to the Labor Department. On an annual basis, prices remain up 1.3%, a significant decrease from September's 2.2%. Core prices, which exclude food and energy, remained unchanged for the month, lower than expected. These reports suggest that high inflation may be starting to dissipate, which could have implications for the Federal Reserve's interest rate decisions. Many economists believe the central bank is done raising rates given the notable decline in inflation.