Inflation in consumer prices has plummeted from a four-decade high 9.1% in June 2022. Yet despite having reached relatively low levels, it has so far remained persistently above the Fed’s 2% target.

Excluding volatile food and energy prices, so-called core wholesale inflation fell 0.1% from February, the first drop since July. Compared with a year earlier, core producer prices rose 3.3% and lower ...

The wholesale price report comes a day after the government reported that consumer prices rose 2.7% in November from a year earlier, up from an annual gain of 2.6% in October. The increase, fueled ...