IN OTHER WORDS, INTEREST RATES ARE ABNORMALLY HIGH:

 Wholesale prices dropped in November for the third straight month, indicating that inflation remains in check as Federal Reserve officials consider reducing a key stimulus program. [...]

During the previous 12 months, wholesale prices rose 0.7%. That figure was up from a 0.3% 12-month rate through October, but remained well below the Fed's target of 2% annual inflation.

Central bank policymakers rely on a different inflation measure based on prices for personal consumption expenditures. But the latest 12-month figure for that gauge, through October, also was 0.7%.

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