Wholesale price inflation slows last month as gas and food costs fall

Wholesale price inflation slowed last month in Washington, driven by declines in gas and food costs, according to the Labor Department's producer price index.

The decrease follows a reversal in gas prices from an earlier Iran war spike, while other costs also cooled across the board.

Analysts view the deceleration in wholesale prices as an encouraging sign that consumer inflation could continue to grind lower in the coming months.