After a bumpy start to the year, there are more signs that inflation is moderating.

I'm Nova Safo with a marketplace minute.

Wholesale prices declined a bid in May after climbing the month prior.

The Labor Department's producer price index fell

two-tenths percent month over month.

This measure can help forecast where consumer prices are headed.

Initial claims for jobless benefits went up a bit last week. They rose to

242,000, that's the highest amount in 10 months, but still signals a healthy job

market. Federal Reserve Chair Jerome Powell says recent news on inflation

and jobs is encouraging, but the Central Bank's policymakers will wait for more data

before cutting interest rates. Yesterday they signaled that they're likely to cut rates only once before the year is over.

Leaders of the group of seven industrialized democracies kicked off their annual meeting in Italy

with an agreement to provide more financial aid to Ukraine.

This time it's in the form of a $50 billion loan backed by frozen Russian assets.

I'm Novasafo with a marketplace minute.