Inflation Hits Highest Since 1974 in Philly Fed Manufacturing Survey as Growth Unexpectedly Slows

Inflation Hits Highest Since 1974 in Philly Fed Manufacturing Survey as Growth Unexpectedly Slows: 

Inflation signals climbed in August even while the pace of growth in manufacturing unexpectedly slowed in August, according to a survey from the Federal Reserve Bank of Philadelphia.

The Philadelphia Fed’s survey of manufacturers showed the current activity index slipping from 21.9 to 19.4 in August, the regional Fed bank said Thursday.