Wholesale prices

rose last month 

Wholesale prices in the United States rose last month, remaining low, but this suggests that the American economy has yet to completely vanquish inflationary pressure. The producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month before. Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain 1.9% in September. An increase in services prices drove the October increase. Since peaking in mid-2022, inflation has fallen more or less steadily. But average prices are still nearly 20% higher than they were three years ago

Jobless claims fall

to 6-month low 

The number of Americans applying for unemployment benefits fell to their lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for the week of Nov. 9. That’s less than the 225,000 analysts forecast. Weekly applications for jobless benefits are considered representative of U.S. layoffs in a given week. Continuing claims, the total number of Americans collecting jobless benefits, fell to 1.87 million for the week of Nov. 2, in line with analysts’ expectations.

Trump’s plans may

not lower bills

Americans are fed up with the price of food, and many are looking to President-elect Donald Trump to lower their grocery bills. Trump often railed on the campaign trail against hefty price increases for bacon, cereal and other products. But the steep food price inflation that stunned the U.S. in 2021 and 2022 had complicated causes that are difficult to unwind. Economists say there’s very little a president can do in the short term to get grocery prices down since sustained declines typically only happen during protracted recessions. And many economists think Trump’s plans to put tariffs on imported foods and deport undocumented workers could make food prices rise.

The Onion buys

Infowars website

Families of Sandy Hook Elementary School shooting victims say the satirical news publication The Onion won the bidding for Alex Jones’ Infowars at a bankruptcy auction. They made the announcement Thursday. Jones owes them more than $1 billion in defamation judgments for calling the 2012 massacre a hoax. The sale price was not immediately disclosed. The Onion says its “exclusive launch advertiser” will be the gun violence prevention organization Everytown for Gun Safety. Jones said on social media that he planned to challenge the sale in court. He broadcast live from the Infowars studio Thursday morning and appeared distraught, putting his head in his hand at his desk.

— Bulletin wire reports