US Producer Prices Cool More Than Expected

The video discusses changes in producer prices, noting a half-percent drop in July, reducing the year-over-year rate from 11.3% to 9.8%. Core rates excluding food and energy rose less than forecasted. Revised jobless claims indicate a stronger labor market, easing inflation concerns. A significant drop in energy prices contributed to the overall decrease, while food inflation persists.

What was the percentage drop in energy prices mentioned in the text?

What trend in food inflation is indicated in the text?