Inflation in wholesale prices accelerated last month, the Labor Department said Thursday, in a report closely watched for its implications for the Fed's interest-rate decision next week. The producer price index rose by 0.

Wholesale-price inflation sped up in August, the Labor Department said Thursday.The producer-price index rose by 0.4% last month, versus its 0.1% increase in July. The reading was in line with economists’ forecasts.

August’s PPI increased 0.4% month over month with year‑over‑year readings around 5.4%–5.5%, though revisions to prior months have sparked questions about whether the data meets consensus expectations and how it feeds inflation and policy expectations.

Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war keep costs elevated.The Labor Department's pro

Lydia Hu reports on Canada's new retaliatory tariffs targeting $20 billion of U.S. goods after trade negotiations stall. Shawna Morris of the National Milk Producers Federation weighs in on the escalating US-Canada trade fight.

Canada announced tariffs on about $20 billion worth of U.S. goods, in response to the latest round of tariffs on Canada.

The United States has sharply escalated its trade war with Canada, banning some Canadian imports after retaliatory Canadian tariffs took effect on about $20 billion in U.S. goods.

A set of U.S. exports to Canada face heavy tariffs in retaliation for President Trump's levies on Canadian goods. CBS News' Aaron Navarro reports.