Posted on 08/31/2021 12:00:43 AM PDT by weston
Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago
FRI, SEP 10 20218:32 AM EDTUPDATED 19 MIN AGO Jeff Cox
FTA
The producer price index increased 0.7% in August from a month ago, above the 0.6% Dow Jones estimate.
Final demand prices rose 8.3% from a year ago, the biggest increase on record going back to 2010.
The move showed that inflationary pressures are likely to persist.
Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday.
The producer price index rose 0.7% for the month, above the 0.6% Dow Jones estimate though below the 1% increase in July.
On a year-over-year basis, the gauge rose 8.3%, which is the biggest annual increase since records have been kept going back to November 2010. That came following a 7.8% move higher in July, which also set a record.
The data comes amid heightened inflation fears fed by supply chain issues, a shortage of various consumer and producer goods and heightened demand related to the Covid-19 pandemic. Federal Reserve officials expect inflationary pressures to ease through the year, but they have remained stubbornly persistent, with Friday’s numbers indicating that the trend likely will continue.
Excluding food, energy and trade services, final demand prices increased 0.3% for the month, below the 0.5% Dow Jones estimate. Still, that left core PPI up 6.3% from a year ago, also the largest record increase for data going back to August 2014.
Final demand services rose 0.7% for the month, thanks to a 1.5% gain in trade services, or the margins received by wholesalers and retailers. Transportation and warehousing costs surged 2.8%.
About one-third of the overall gain came from health, beauty and optical goods, which jumped 7.8%. Prices related to outpatient hospital care held back the gains, falling 1.5%.
Prices for final demand goods rose 1% for the month, pushed primarily by a 2.9% gain in foods which in turn came from an 8.5% surge in meat prices. Slaughtered poultry prices surged 11%. Prices fell for iron, steel and diesel fuel.
The Daily Wire
Joe Biden announced a sweeping new federal vaccine mandate that will affect millions of Americans. Large companies must require that employees get vaccinated, or undergo weekly COVID testing. The Daily Wire has chosen to not comply with Biden’s authoritarian nonsense. Here’s why.
https://www.youtube.com/watch?v=X-jmOts8Jr0&t=20s
Amen. Thank you.
Good morning, those eggs look great, light and fluffy.
Hope you get to rest at home today, and let someone else handle the Legion for a change?
I’m feeling rather feisty after the mandates yesterday.
You are welcome.
“Hard to say what is in his head, what he is thinking, not much that I can see.”
I think he just read a script. I’m pretty sure he has no clue what he is saying or where he is.
I suspect the $600 amount is because that’s the threshold where income has to be reported.
I’m not wording it well, but like if I win $100 in the lottery, they’re not going to issue me a 1099. If I win $600, they will.
I’m so glad you slept well! It took me a while to get to sleep, feeling rageful does that to me. I’m thinking about going to get a job just so I can get fired. I don’t like being told what to do.
Good morning CB. Nope. We are painting the Legions walls
Lisa Boothe
@LisaMarieBoothe
Why are vaccinated people so afraid of COVID-19? There is no chance of ever living in a sane society again with this level of irrationality…
5:08 AM · Sep 10, 2021
https://twitter.com/LisaMarieBoothe/status/1436300536937074688?s=20
“I think there is something else in play here.”
I wish I knew what. It keeps coming back to the vaccines, I keep wondering is there something in them that is the goal? Or is it just to increase the federal government’s power over People’s Health. And therefore everything else. And where’s the Supreme Court going to land on this?
Steve Deace
@SteveDeaceShow
According to WHO, the following countries all had more Covid cases AND deaths in August 2021 than August 2020 (full vax rate in parentheses):
U.S. (52.8)
Israel (64.1)
UK (64.1)
Germany (61.3)
Canada (68)
The following countries did not:
Sweden (59.9)
India (12.2)
5:48 AM · Sep 10, 2021
https://twitter.com/SteveDeaceShow/status/1436310601291214859?s=20
Good one, LG!
Good morning.
Well it was cool here. Sitting out by the pool, saved a little frog. Yesterday I saved two. Fell down the hill trying to get it into the forest, so I’m a little more careful today. I wish they would quit jumping in the water. Anyway now the sun’s out and we’re back to Summer.
Well. That’s just strange! LOL!
Good morning, s&s
“I suspect the $600 amount is because that’s the threshold where income has to be reported”
What do you think would be the point? To monitor someone’s income, and then see where the money goes? Seems like an awful lot of work. But it’s got to have something to do with Communism, creeping communism.
“We are painting the Legions walls”
Not one day off eh? I know you are appreciated there! I’m just getting tired hearing all the work you’re doing.
“The following countries did not:
Sweden (59.9)
India (12.2)”
Sweden is interesting. I’m searching my memory here so this might be all wrong. But I believe they didn’t have any lockdown at all and they just kept their economy flowing. Could be they have less covid cases and deaths because they have reached herd immunity.
I’m thinking about getting an antibodies test. I don’t remember when I might have had covid, but who knows. Has anyone here had an antibody test?
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