Bring On That Double-Digit Inflation! Producer Prices Rise 9.6%

PJ media ^ | 12/14/2021 | Rick Moran

[SeekAndFind]

Prices that suppliers charge businesses and other customers rose at the fastest pace on record, up 9.6%. The Labor Department says the core PPI — which excludes food and energy costs — jumped 7.7% in November, which was also a record.

Those price increases won’t show up on store shelves for a couple of months, so it’s entirely possible that by the time springtime comes to the Midwest, we could be seeing double-digit price increases.

The Wall Street Journal is reporting that higher prices for energy, wholesale food, transportation, and warehousing contributed to the rise in inflation.

Persistently high prices in large part reflected clogged supply chains, as manufacturers scrambled to keep up with unusually strong consumer demand. The rise in prices of goods continued to outpace that for services, as consumer spending on goods remains elevated, while that on services is up just slightly from pre-pandemic levels.

Prices for goods, excluding food and energy, climbed 0.8% in November from October, faster than the 0.6% increase the previous month. The services index advanced 0.7% on the month, up from 0.2% in October, driven in part by a pickup in hotel room rates and airfares.

Even the Federal Reserve Board is giving up on the idea that inflation was “transitory.”

CNBC:

Fed officials for months had been insisting that inflation was “transitory” and closely tied to Covid pandemic-related factors that eventually would fade. However, in recent days Chairman Jerome Powell and others have indicated that word no longer is appropriate and likely will be dropped from future central bank communications.

Supply chain bottlenecks and surging demand have been the primary drivers of inflation, and have eased only marginally.

[Yogafist]

Can I be the first to admit, this beats mean tweets any day.

[Governor Dinwiddie]

On a recent visit to Cracker Barrel, I noticed that the inside of their laminated menus had been removed and replaced with a stripped down paper photo copy insert. They can now quickly print new menu inserts in the manager's office as prices rise. Yes, the prices have gone up.

[gov_bean_ counter]

Cheerios boxes are only filled up 3/4 full now. Look for other packaging changes even if the prices stay relatively the same.

[Beagle8U]

My heating propane cost has doubled from last year!

[texas booster]

We bought our first home at 18.5%, coming out of the Carter malaise.

I tell that to kids and they can’t imagine paying those interest rates with todays’ home prices.

Yeah, the political group that steals your elections does matter.

[Organic Panic]

The statisticians are liars. Nothing is up 9.6%. ALL my raw materials are up over 30%

[central_va]

Well that mean Orange Ogre is gone so we have that going for us. /sarcasm

[LuxAerterna]

We have a generation that has never experienced high crime, high inflation and spreading poverty. They’re accustomed to lights at the flip of a switch, water on tap, inexpensive gas at the pump and groceries on the shelves. Meanwhile, they’ve been indoctrinated with nonsense about “structural racism”, “climate change”, non-binary genders.

[CoastWatcher]

Not to worry:
The $15/hr minimum wage goes into effect on Jan 1, 2022.
That combined with resident dumbass spending trillions will fix it.

[minnesota_bound]

The corrupt democrats and news media are saying the reason ships are backed up in port and inflation (if they admit to it at all) is because we are buying too much goods because the economy is roaring...