Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020

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,

Wednesday. The department said that was the biggest monthly decline since April…