![]() The cost of commodities such as wheat and corn has fallen in recent months because of easing global demand. Grocery prices edged up just 0.1% after two straight declines, pushing down the yearly increase to 5.8% from 7.1%. Nationally, regular unleaded gasoline averaged $3.59 a gallon Monday, up from $3.54 a month ago but down from a peak of $5 in June 2022. Pump prices have been choppy but have remained relatively low amid lingering recession fears that have held down global oil demand and prices. Gas prices fell 5.6% in May and are down nearly 20% from a year earlier. What is the outlook for the price of gasoline? ![]() It helps set rates for mortgages and other important loans. The yield on the 10-year Treasury rose to 3.83% from 3.74% late Monday. In the bond market, yields initially dropped after the inflation report, but later recovered. stock market has been on a roll amid hopes the economy can avoid a severe recession and inflation will fall enough for the Fed to take it easier on its rate increases. The Dow Jones Industrial Average ended the day 0.4% higher, while the Nasdaq composite jumped 0.8%. ![]() The S&P 500 closed up 0.7%, ticking further into heights it hasn’t touched since April 2022. Stocks ended higher on Tuesday after the inflation report cemented Wall Street’s bets for the Fed to hold off on hiking interest rates this week.
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