Wall Street Slips as Inflation Remains Hotter Than Expected

The New York Stock Exchange building in the Financial District of New York on Sept. 27, 2022. Mary Altaffer/AP Photo

NEW YORK—Stocks are slipping on Wall Street after a report showed inflation is still hotter than expected, even though it is slowing. The S&P 500 was 0.3 percent lower and on pace for its sixth loss in the last seven days. The trigger was data showing prices at the wholesale level were 7.4 percent higher in November than a year earlier. That’s a slowdown from October but still worse than economists expected. High inflation, along with the Federal Reserve’s economy-crunching response to it, have been the main reasons for the stock market’s painful tumble this year.