Jump to content

Inflation hovers at 10% in producer index, highest on record


Valin

Recommended Posts

inflation-hovers-at-10-in-producer-index-highest-on-record?utm_campaign=article_rail&utm_source=internal&utm_medium=article_rail
The Washington Examiner

Zachary Halaschak, Economics Reporter

March 15, 2022

Producer prices increased a blistering 10% for the year ending in February, according to a report Friday from the Bureau of Labor Statistics, the highest on record.

The high in Tuesday’s producer price index report was on par with predictions by forecasters and is at its highest in the gauge's 11-year history after it rose by 9.8% in December.

he producer price index gauges the wholesale prices of goods, which are eventually passed down to consumers.

The news came just days after a report for the month of February found consumer prices increased by 7.9% — the fastest annual rate in four decades. *The high rate of inflation has damaged President Joe Biden politically and undercut support for his spending proposals.

(Snip)

_____________________________________________

* Care to place a small wager on that?

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • 1721709584
×
×
  • Create New...