Wholesale prices in October posted their biggest decline in 3½ years, providing another indication that the worst of the inflation surge may have passed. The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% increase from the Dow Jones consensus, the Labor Department reported Wednesday. … Read more
Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years. India’s export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice. “The only shortage out there right now would really … Read more
Jerome Powell, chairman of the US Federal Reserve, during a roundtable event in York, Pennsylvania, US, on Monday, Oct. 2, 2023. Ryan Collerd | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, … Read more