Posted on 09/11/2021 6:26:28 AM PDT by BenLurkin
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.
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.
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%.
(Excerpt) Read more at cnbc.com ...
The pedo xiden economy
Prepare yourself for STAGFLATION.
(Un)Welcome back carter
But hey, many stores are handing out free 😷 masks.
Inflation on top of shrinkflation. I choose not to play this rigged game. I’ve been growing vegetables, buying less of everything else and looking for good deals on used/refurbished when something is really needed.
Yep.
When it’s Republicans in office (imagine if this were Trump) inflation is a major crises cause by evil Republican policies.
When it’s RATS in office - the media either ignore it or explain it away as temporary.
As Rush used to say: “When gas goes up EVERYTHING goes up.”
Especially bad news for retired folks. Inflation chips away at the nest egg.
Inflation on top of shrinkflation.
*************
The latter is very insidious, and often goes unnoticed. In general, we’re getting less and less for the dollar.
But nothing to worry about; its just a transitory thing. The elites told us so.
This is not going away.
The Biden Democrat’s have archivally inflated fuel prices 75%. Now with out of control inflation by that, they are going to spend another $3.5 trillion. That is like dumping a gasoline tanker truck on a camp fire!
It going to get much worse all due to the foolish policies of the Biden Democrats.
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But the COLA for Social Security and others will be 1%, according to the "new improved" CPI.
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