(https://www.cnbc.com/2026/08/13/wholesale-prices-were-flat-in-july-below-expectations-for-0point2percent-increase.html) in July — below the expected 0.2% increase — signaling inflation pressures are easing across the supply chain. The market celebrated this as a win for equities broadly, but forensic accountants know better: flat wholesale inflation is the canary in the coal mine for bank profitability.

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