(NewsNation) — The stock market continued to struggle Wednesday, closing at its lowest levels since November 2020. But economists are seeing some good signs in the U.S. economy, particularly around producer and consumer prices.
The Producer Price Index, which calculates what producers of goods are paying for items, showed signs that inflation is slowing down slightly, said NewsNation business contributor Lydia Moynihan.
Moynihan said the PPI gives economists clues as to what the consumer price index figures may look like when they’re released on Thursday.
“The PPI gave us a hint what we’re going to see tomorrow, and the big picture is that inflation is decelerating. We’re going in the right direction, but it’s not happening as quickly as we’d like to see,” Moynihan said. “The CPI number last month was 8.3% and we’re hoping tomorrow we get a number that is a little bit lower than that.”
Moynihan’s full interview can be viewed in the video above.