Posted on 11/09/2021 7:29:16 AM PST by John W
WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% last month from a year earlier, matching September’s record annual gain and offering more evidence that inflationary pressures are not yet easing.
The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.6% last month from September, pushed higher by surging gasoline prices. Excluding volatile food and energy prices, wholesale inflation was up 0.4% in October from September and 6.8% from a year ago.
More than 60% of the September-October increase in overall producer prices was caused by a 1.2% increase in the price of wholesale goods as opposed to services. A 6.7% jump in wholesale gasoline prices helped drive goods prices up.
Mostly dormant for decades, inflation has returned to the United States this year. The economy’s strong rebound from the 2020 coronavirus caught many businesses by surprise. Their scramble to meet unexpectedly strong demand has created shortages of labor, raw materials and goods and snarled traffic at ports and freight yards. The result has been higher prices, and the supply squeeze is expected to last at least well into 2022.
(Excerpt) Read more at apnews.com ...
“You guys just don’t get the supply side thing.”
Poopy Pants
We ain’t seen nuthin yet!..................
The result of printing a ton of worthless money.
Bare Shelves Biden and the Democrat’s solution? Let pour trillions more in US Federal spending onto the inflation bonfire!
Gas is $5/gallon in some parts of Los Angeles, and at least $4.50 everywhere else.
The Trump years seem like a pleasant dream. The country has awakened to a nightmare with Biden.
Brandon has crapped the bed and his defenders are cheering. Whatever you need, I suggest you buy it now.
The White House / democrats say that inflation s a good thing.
Sorry, bad reading.
Not yet easing?? They are going up 8.6% a MONTH. I hope these are annualized numbers otherwise 8.6% x 12 = 100% = Venezuela.
reread it
I don't trust these gov't numbers at all. When fuel at the pump goes from $2.11 to $3.21 I could care less about wholesale prices. That's 52% rise in retail.
Everything is blamed on a stron economy.
Question 1. Then why was this not happening during the Trump strong economy?
Question 2. Why do we need Chomo Joe’s multi trillion dollar spending bills?
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