News The Balance Today: News You Need To Know on Nov. 15, 2022 By Kristin Myers Kristin Myers Instagram Twitter Website Kristin Myers is an award-winning journalist and Editor-in-Chief of The Balance. She previously anchored Yahoo Finance Live, where she also created and hosted "A Time for Change,” a weekly program that explores race, diversity, and inclusion in the world of business, finance, and politics. Kristin holds a master of arts in international journalism from Cardiff University, and a bachelor of arts in English from the University of Pennsylvania. learn about our editorial policies Published on November 15, 2022 Share Tweet Pin Email Photo: Thomas Barwick / Getty Images There’s another sign that inflation is cooling. After the Consumer Price Index (CPI) last week showed inflation easing, today the Labor Department released its Producer Price Index (PPI) for October, showing that wholesale prices rose less than expected. PPI rose 0.2% last month, less than the 0.4% economists anticipated. The index was 8% higher since last year, down from 8.4% the month before. The better-than-expected inflation data gave investors something to cheer about—stocks are jumping today on the news. The more inflation cools, the less likely it becomes that the Federal Reserve will aggressively hike rates at its policy meeting next month. Markets believe there is an 85% chance that the central bank will only increase rates by 50 basis points (bp), lower than the 75-bp hikes we’ve seen over the past few months. Lower wholesale inflation isn’t just good for markets—it’s good for us, too. Many stores will pass on higher costs to shoppers, so if wholesale inflation declines, it could mean lower prices for us. And if rate hikes aren’t as aggressive, then loans and debt won’t be as expensive either, so this could be good news for anyone interested in buying a house or those holding credit card debt. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. MarketWatch. "This Week's Major U.S. Economic Reports & Fed Speakers." Bureau of Labor Statistics. “Producer Price Index News Release Summary.” Bureau of Labor Statistics. "Graphics for Economic News Releases: PPI for Final Demand, 12-Month Percent Change, Not Seasonally Adjusted." CME Group. "CME Fed Watch Tool."