Reports point to lower food prices, more hiring

In welcome set of good economic reports, wholesale food prices fall and CEOs seem more hopeful

Christopher S. Rugaber and Martin Crutsinger, AP Economics Writers, On Tuesday June 14, 2011, 5:45 pm EDT

WASHINGTON (AP) -- Americans are finally getting some relief from high gas and food prices.

Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year.

It amounted to welcome news Tuesday after a rough patch that has stoked worries the economic recovery is slowing. More jobs and lower prices would both give Americans more money to spend on other things and rejuvenate economic growth.

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