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Wholesale Inflation Continues to Rise, Impacting Consumer Prices in El Paso

KVIA••CNN Newsource
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In November, wholesale prices in the U.S. increased by 0.2%, leading to an annual inflation rate of 3%, as reported by the Bureau of Labor Statistics. This rise is attributed to higher energy costs and ongoing tariffs on imported goods imposed by former President Trump. Retailers are currently absorbing many of these costs to shield consumers from price hikes. The report indicates that inflation may not have peaked yet, which could lead to further increases in consumer prices. Key economic indicators suggest that the Federal Reserve's inflation target of 2% may remain out of reach, impacting local residents and businesses in El Paso.

Key Details: • Wholesale prices rose by 0.2% in November, annual rate now at 3% • Retailers are absorbing costs to avoid passing them on to consumers • Upcoming report on personal consumption expenditures to be released on January 22

economy tariffs inflation consumer-prices wholesale

People & Organizations

El PasoDonald TrumpBureau of Labor StatisticsSamuel TombsJoe BrusuelasPantheon MacroeconomicsRSM US

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