 the latest update on inflation said prices rose more at wholesale levels last month than economists expected which was a letdown after data on thursday said inflation at the consumer level was better than expected helping calm worries about a potential spiral where expectations for high inflation could drive u.s consumers toward behavior that would push inflation even higher that in turn could give the fed reserve more of the evidence of slowing inflation it says it needs to begin cutting its main interest rate which is at its highest level in more than two decades