Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline, the Bureau of Labor Statistics reports. The overall decrease is the largest in one month since July 2009.
Excluding the energy and sectors, prices at the wholesale level ticked up 0.2 percent.
There's grim news from Iraq this morning, where scores of people have been killed in coordinated attacks on Shiite Muslim pilgrims. As often happens when stories such as these are developing, different news outlets are reporting different death tolls. No matter which report you read, however, the news is disturbing:
Former Rep. Gabrielle Giffords, left, celebrates with Ron Barber after he won Tuesday's special election in Arizona to serve the remaining seven months of her term. Like Giffords, Barber is a Democrat. He's also a former Giffords aide.
Voters in Southern Arizona decided Tuesday who will replace former U.S. Rep. Gabrielle Giffords for the remainder of her term: her former district director, Ron Barber. Giffords resigned from Congress in January to focus on recovery from injuries she suffered in a shooting in early 2011. Barber was also injured. His Republican opponent, Tucson businessman Jesse Kelly, narrowly lost to Giffords two years ago.