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Another positive sign for consumers: Wholesale inflation ticked down last month

New York CNN  —  Americans and the Federal Reserve have another positive development to celebrate: More evidence that price pressures are fading. Wholesale inflation cooled significantly in May, with prices down 0.2% from April’s 0.5% increase, according to data the Bureau of Labor Statistics released Thursday. Economists polled by FactSet had anticipated a 0.1% rise in monthly wholesale inflation. The Producer Price Index, which measures the change in prices that manufacturers pay to suppliers, rose 2.2% for the 12 months ended in May, matching April’s increase. FactSet consensus estimates had the annual increase at 2.5%.