producer prices – One America News Network

US import prices post largest drop in eight months

Import prices dropped by the most in eight months in August, suggesting that domestic inflation will continue to subside in the months ahead.

The S&P 500 and the Nasdaq rose on Tuesday as most megacap stocks gained, with focus now moving to key inflation data later this week.

Consumer spending appeared to be slowing in the first quarter amid rising inflation and high borrowing costs.

U.S. retail sales fell for the first time in seven months as motor vehicle purchases and spending on hobbies dropped.