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Wholesale inflation climbs 10.8% in May, hovering near 40-year high
FoxBusiness.com ^ | 6/14/2022 | Megan Henney

Posted on 06/14/2022 7:56:32 AM PDT by mykroar

Wholesale prices accelerated again in May as inflation tightened its stranglehold on the U.S. economy, adding to the financial pressure on millions of Americans.

The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 10.8% in May from the previous year. On a monthly basis, prices grew by 0.8%. Although that was slightly lower than the 10.9% forecast from Refinitiv economists, the reading – near a record-high of 11.5% notched in March – suggests that inflationary pressures in the economy remain strong.

Core inflation at the wholesale level, which excludes the more volatile measurements of food and energy, increased 0.5% for the month, following a 0.6% increase in April. Over the past 12 months, core prices climbed 6.8%.

Overall, prices for goods jumped 1.4% last month, the fifth consecutive rise and the biggest contributor to the headline inflation figure. That included a 5% gain for energy costs and an 8.4% leap for gasoline prices. The services index, meanwhile, advanced 0.4% in May, with increases in transportation and warehousing services accounting for more than half of the gain.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bidenflation; economy; inflation; markets; oodaloop; prepper; preppers; prices; shtf
Charts at link.
1 posted on 06/14/2022 7:56:32 AM PDT by mykroar
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To: mykroar

Biden did that.

L


2 posted on 06/14/2022 7:57:52 AM PDT by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: mykroar

Let’s go Brandon!


3 posted on 06/14/2022 8:04:34 AM PDT by blueunicorn6 ("A crack shot and a good dancer”)
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To: mykroar

The Biden administration said this inflation is “transitory”. My dictionary says that means “of brief duration”. But this inflation sure looks like it’s here to stay.

The media tells me Biden is never wrong. So my dictionary must be wrong. I bought it about 10 years ago. Nevertheless, I want my money back.


4 posted on 06/14/2022 8:10:47 AM PDT by Leaning Right (The steal is real.)
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To: mykroar

Jo Jo and Camela being “historical” again. Friggin’ history books are going to read like cheap comic books by the time those two are run off.


5 posted on 06/14/2022 8:15:07 AM PDT by FlingWingFlyer (Don't blame me, I voted for President Trump.)
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To: mykroar

Well there’s headline editorializing for you. Had the PPI been up the same amount would it be “hovering near”? Why can’t they say down slightly when it’s down slightly?


6 posted on 06/14/2022 8:26:08 AM PDT by Poison Pill
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To: Leaning Right
The media tells me Biden is never wrong. So my dictionary must be wrong. I bought it about 10 years ago. Nevertheless, I want my money back.

The money you get back for your dictionary wouldn't be worth as much...

7 posted on 06/14/2022 9:01:57 AM PDT by GOPJ (WLE's hunt for white supremacists allows spying on their hot sister in law & hoity-toity minister.)
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To: mykroar

If only inflation were “hovering.” It is way past “hovering” and is climbing at tens of thousands feet per minute.


8 posted on 06/14/2022 9:10:29 AM PDT by ProtectOurFreedom (Wanting to make America great isn’t an insult unless you’re trying to make it worse! ULTRAMAGA!!)
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To: mykroar
Wholesale inflation climbs 10.8% in May, hovering near 40-year high

Good job Brandon......spit.

9 posted on 06/14/2022 9:18:04 AM PDT by SpokeshaveReturns (Spokeshave Returns)
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To: mykroar; blam; 4everontheRight; 4Liberty; 5thGenTexan; 45semi; 101stAirborneVet; 300winmag; ...
Prepper Ping - Inflation (and Commodies 'Shrinkflation')
Just keep praying that warehouse distribution transports can keep up with the fuel crisis

mykroar :" Charts at link"

(From this article) : " Overall, prices for goods jumped 1.4% last month, the fifth consecutive rise and the biggest contributor to the headline inflation figure.
That included a 5% gain for energy costs and an 8.4% leap for gasoline prices.
The services index, meanwhile, advanced 0.4% in May, with increases in transportation and warehousing services accounting for more than half of the gain."

From an earlier today article posted by FReeper blam:
"Rich Dad Poor Dad' Author Robert Kiyosaki Touts Canned Tuna As The Best Investment Today — As Gold, Silver, And Bitcoin Aren't Edible"

https://freerepublic.com/focus/f-bloggers/4071000/posts

10 posted on 06/14/2022 9:19:13 AM PDT by Tilted Irish Kilt
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To: mykroar

2024 aluminum over 300% higher pre Chomo Joe. Ar least from my suppliers. TO THE MOON, JOE. Comeon Man!


11 posted on 06/14/2022 9:19:41 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: mykroar

Oh it’s a lot higher than a 40 year high, it only appears like a 40 year high after they’re finished massaging the hell out of the numbers and then running it through a bunch of accounting tricks.


12 posted on 06/14/2022 9:42:10 AM PDT by rottweiller_inc (inter canem et lupum )
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To: Lurker

Greg Price
@greg_price11

Lemon: “Experts say last year’s stimulus package contributed to inflation. Does the Biden admin bear some responsibility for this?

Jean-Pierre: “It has put us in a place where we can actually put us in a place where the American people feel can actually we can take on inflation”
https://twitter.com/TheLastRefuge2/status/1536579159694135296

+—————————————

Democrat Fact checkers be like:

He didn’t say that, and if he did, he didn’t mean it, and if he did you don’t understand it, and if you did, it’s not a big deal, and if misfit’s taken out of context, and if it wasn’t, others have done it, and if they haven’t, at least ‘Mean orange man gone.


13 posted on 06/14/2022 10:00:38 AM PDT by minnesota_bound (Need more money to buy everything now)
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To: mykroar

Everyone should realize that inflation has been increasing since Biden took office. We are now at the point that looking at year to year numbers does not give the appropriate perspective of compounding month to month, since April 2021 and inflation prior has rolled off the year to year stats.


14 posted on 06/14/2022 10:04:27 AM PDT by ConservativeInPA (Scratch a leftist and you'll find a fascist )
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To: minnesota_bound

🤯


15 posted on 06/14/2022 2:13:30 PM PDT by Rusty0604 (" When you can't make them see the light, make them feel the heat." -Ronald Reagan)
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To: Tilted Irish Kilt

You may already use every bit of food you can but for others, here’s some tips.

Rotate the pantry. Rotate the freezer. Organize so you know what you have and don’t have (with all things, not just food). Don’t let anything go bad. Never throw out anything before you’ve used it ALL up. “Best buy dates” stamped on items doesn’t mean to toss them immediately as they’ll last past those dates. Waste not, want not.

Just because you’ve kept your pantry a certain way the past few decades doesn’t mean the items fit the same what with shrinkage. A new arrangement might yield more storage. Think outside the box for all storage needs.

Dried beans are cheaper than canned as long as you have a way to cook them. Freeze any leftover bean liquid for a future dish like soup or the liquid in cooking rice/pasta. Bean liquid can also be used to make meringue candy.

Don’t drain canned goods down the sink. Freeze the liquid off canned veggies for free broth in a large container like a recycled margarine tub so it can be continually added to. Canned peas liquid is too strong a flavor so keep it in another container for split pea soup. Beet liquid gets its own smaller containers for baking or coloring recipes. The liquid from boiled potatoes combined with brown sugar can be made into fake maple pancake syrup.

Freeze the holiday ham bone to use in split pea soup or a pot of beans. The bone can usually be divided for two pots of beans.

Use canned fruit liquids to drink straight, add to tea, popsicles, thicken for a sweet and sour Asian sauce or an ice cream topping, etc.

Use half the amount of sugar in koolaid and try to reduce sugar where you can. A boxed cake mix does just fine using one less egg. Many recipes calling for milk or other liquid works fine using water instead. Be mindful of substitutions for what you don’t have on hand or a cheaper ingredient. Do NOT mess with the Ball recommended sugar in home canning recipes.

Use pickle juice as a substitution for vinegar in cleaning sink drains or dissolving lime/calcium build up. Also, add a cup or so of pickle juice in a slow cooker pork roast (add an onion, black pepper, but careful on the salt since the pickle juice is salty). Some like pickle juice snow cones/popsicles. Use it to pickle cucumbers or other fresh veggies. If the pickle jar has a red pepper or garlic in the bottom, dice them and use in a spicy dish.

Freeze any liquid off cooked meats like the veggies above for free stock. Freeze any fats to cook with later. If you have enough beef bones, make bone broth. Pick the meat off that holiday turkey and all bones. Boil poultry carcasses/bones for free stock (they say to add a spoon of vinegar to extract more calcium but who knows for sure). If you don’t mind your family’s germs, boil their fried chicken bones since any cooties will be boiled away.

If you make pork tamales, run the thick layer of cooked fat off the pork roast through a food processor to use as lard in the masa. Use your frozen meat fats, too. That saves a trip to the store and $2/lb for lard and no shortage worries.

Dry fresh corn husks for homemade tamales. If you have a meal of tamales the first day and you’re making more the next day, rinse off those husks and reuse them. It’s not like they have anyone’s germs if you’ve unwrapped them before plating. And by all means, fill those husks as full as possible rather than making little small ones like at the grocery store or tied up pretty and wasting husks. If a husk is too small, layer in another small one to make one full sized one.

After making corn cob jelly from the corn cobs, let the dog have a couple cobs (watch so he doesn’t choke) and toss the rest in the compost. There is a dish called corn cob ribs but haven’t tried it. Corn silk can be made into a tea. Lots of unusual foods and plants can be made into jelly - jalapeno jelly or tomato preserves or forage.

Give the cats the liquid off canned tuna and fish.

Bake, air fry or pan fry chicken skin to make cracklings. Same with root vegetables for chips. Compare the cost of a bag of potato chips to homemade chips. Compare a bag of corn kernels to microwave popcorn.

Reuse coffee filters a second time, leave the old coffee grounds and add half (ymmv) fresh coffee grounds for the next pot. Reuse a tea bag for a second or third cup. Grounds are good fertilizer for plants and the compost pile. Egg shells are also good for plants and human calcium supplements (search how to clean and heat them to kill bacteria).

Do NOT use fish fertilizer on your garden tomatoes unless you want them to taste like nasty raw rotten fish.

Don’t let anything rot in the fridge. Homemade pizza, soups, casseroles, stir fries, fried rice, fritters, SOS, mu shu whatever and empanadas are great ways to use up wee little bits of leftovers. A couple tablespoons of this and that can add up to full meals. If you can’t eat it in time, freeze or can or dehydrate it. Fruits and many veggies can be made into quick breads and muffins. A mixture of leftover meat and veggies, cheese and an egg can be made into quick grab meal muffins or grind a tiny bit of meat/veg/pickle/mayo into a sandwich spread. Turn those 3-4 wieners drying out in the opened package into mini corndogs. Any extra batter from fried chicken (combine the egg and the flour), pancakes, fried veggies, etc. can be scraped out of the bowl into a fritter or hushpuppy.

Dry fish coating can be frozen for the next batch of fish.

Sprinkle cinnamon and sugar on pie crust scraps and bake to a crispy cookie texture.

Freeze store bought yogurt (with live cultures) in ice cube trays and use 1-2 as homemade yogurt starters. A batch of homemade yogurt can be chained about 3 times by using the last little bit of yogurt from one batch as the starter of the next batch. Substitute yogurt for sour cream. Strain yogurt and you have a type of cream cheese that can be use just like cream cheese, even for a cheese cake. Incorporate the whey in dishes. If the homemade batch doesn’t gel and is too liquid, just say you made a yogurt drink or put it in a smoothie.

Look at everything before throwing it out. Have you scraped the last of the mayo out of the jar? Did you use the soup can to add water to reconstitute the soup to get all the product out and same with orange juice, tomato sauce, evaporated milk, etc.? Is every bit of onion cut off both ends? When grating carrots, drop the remaining ends into that frozen container (recycled margarine containers) of veg stock or that freezer bag you already have of chopped carrots. Add water to the ketchup/mustard/bbq bottle to use that bit of flavoring to a recipe. Cut off every bit of usable cabbage/lettuce from the core and either add the core to the stock pot or give it to the dog. Boil vegetable peels to flavor broths. Run the paper dry onion peels (no mold) through a food processor and store in reused spice jars to use as a weak onion flavor seasoning.

When chopping carrots for the freezer, chop the large end for oven roasting. Cut the thin ends for soups, stir fries and casseroles. Separate freezer bags. It makes for easier meal preparation.

Peel and eat broccoli stems. Eat mushroom stems. Freeze celery leaves and the white section to use in later dishes.

Zest all citrus fruit. Let it air dry on a plate on the counter. Use in baking or flavor rice, chicken dishes, etc.

Some store bought lettuce has roots so go plant it. Garden lettuce and other greens should be harvested by cutting off only the bottom leaves so the plant continues to grow. When onions and potatoes sprout, go plant them (of course, they shouldn’t have been left to sprout but it happens). Research kitchen scrap gardens.

Fresh tomato and pepper seeds can be planted. Dried beans and garlic cloves are already the seeds. An easy way to get a variety of beans is to purchase a bag of dried soup beans and separate the varieties of beans, store in folded paper or envelopes labeled with the variety and date. It’s doubtful you’ll need the whole bag for planting so cook up the remainder.

Everyone has window sills to grow herbs. Let some go to seed so you always have herbs. There is no reason not to use the tender stems in dishes. Herbs can be air dried or dried in the microwave and stored in recycled jars or reused spice jars. Herbs can also be frozen in ice cube trays. They can also be made into pesto or whatever and frozen in tiny containers.

Plant edible flowers and pretty veggies in the flower bed, especially if you have to abide by HOA rules. FYI, tomatoes are fruits so a low growing cherry tomato should be allowed if veggies aren’t allowed in the front. Research which “vegetables” are really fruit if your HOA only allows fruit in the front yard.

Learn to forage. It’s surprising what may be growing around you. Perhaps a neighbor has a fruit or nut tree that can be bartered or they’ll let you have for what’s dropped to the ground or off their property onto city property.


16 posted on 06/15/2022 10:20:01 AM PDT by bgill (Which came first, the vax or the virus?)
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To: bgill

Canned fruit liquid with a shot of vodka is deeeelish! Perfect dessert on a hot summer day!


17 posted on 06/15/2022 10:24:39 AM PDT by FalloutShelterGirl (Cool! I found my original screen name!)
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