U.S. wholesale price increases mostly slowed last month, the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week. The Labor Department said Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.2% from July to August. That is up from an unchanged reading a month earlier. And measured from a year ago, prices were up 1.7% in August, the smallest such rise since February and down from a 2.1% annual increase in July.

The Palestinian economy is “in free fall,” with production in Gaza plunging to one-sixth of its level before Israeli forces began a blistering military response to the Oct. 7 attacks in the territory, the United Nations says. The report from UN Trade and Development also warned of “rapid and alarming economic decline” in the West Bank. It said expanded Israeli settlements, land confiscations, demolition of Palestinians buildings and violence by settlers have hurt its economy. The economic devastation comes on top of bloodshed linked to fighting since Israel began a military campaign in response to the Oct. 7 attacks.

Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates. Jobless claims rose by 2,000 to 230,000 for the week of Sept. 7, the Labor Department reported Thursday. It matched the number of new filings that analysts were projecting. The four-week average of claims, which smooths out some of week-to-week volatility, ticked up by 500 to 230,750. The total number of Americans collecting jobless benefits rose by a modest 5,000, remaining in the neighborhood of 1.85 million for the week of Aug. 31.

Norfolk Southern said Thursday that its new CEO’s salary will jump to $1 million now that Mark George has been promoted from chief financial officer, and he will be eligible for a $2.25 million bonus and significant stock awards for performance. George was previously making $675,000 as CFO, but he got the top job at the railroad Wednesday after Norfolk Southern’s board fired Alan Shaw for having an inappropriate consensual relationship with the chief legal officer. The railroad disclosed the details of George’s compensation in a filing with the Securities and Exchange Commission. It didn’t immediately disclose how much severance Shaw will receive.