Consumers and businesses remain prudent in their spending as indicated by the decline in October’s factory production. The upside is that the weak economy is taming inflation, with wholesale prices rising less than expected.
A Labor Department report supported this, stating that core inflation, which excludes volatile food and energy, actually declined 0.6 percent. In the past year, core wholesale prices have had the smallest gain in over five years at 0.7 percent.
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