WASHINGTON (Reuters) – An index of global supply pressures eased again in August, continuing a steady decline from its Dec. 2021 peak, the New York Fed reported on Wednesday.
The index remained “historically high,” the New York Fed said. But the index has dropped for six of eight months this year, and the August decline was “quite broad-based,” the New York Fed reported, with across-the-board declines in delivery times.
The U.S. Federal Reserve and central banks globally hope improved supply will help their fight against high inflation.
(Reporting by Howard Schneider)
