Bidenflation: Producer Price Index Jumps to Record High in July

U.S. producer prices jumped much higher than expected in July, suggesting inflation could remain higher than anticipated by the Biden administration and Federal Reserve officials.

The Bureau of Labor Statistics’ Producer Price Index rose one percent compared with June, matching the June rise and outpacing the 0.6 expected. Compared with a year ago, the index is up 7.8 percent, the fastest pace of price increases in data going back to 2010.

Excluding food and energy, PPI rose by one percent on a monthly basis and 6.2 percent on an annual basis. Excluding food, energy, and trade services, pries rose nine-tenths of a percentage point and 6.1 percent compared with a year ago.- READ MORE

Related Articles

(PREMIUM) PAINE IN THE MORNING: 14 things you need to know this Monday – September 13, 2021

There is also an ad free audio version of this episode you can listen to HERE. No more COVID-19 lockdowns, UK health minister suggests – British health minister Sajid Javid said on Sunday he did not expect the country to see any more lockdowns to fight the COVID-19 crisis and ruled out the use of…

To access this post, you must purchase The Hot Wire, The Hot Wire (DG), Monthly Supporter​ or Monthly Supporter​ (DG).

(PREMIUM) PAINE IN THE MORNING: 13 things you need to know this Monday – June 6, 2022

There is also an ad free audio version of this episode you can listen to HERE JPMorgan CEO warns economic ‘hurricane’ is approaching America: ‘You’d better brace yourself’ – JP Morgan Chase & Co. CEO Jamie Dimon warned Wednesday that an economic “hurricane” is forming that could unfortunately make landfall in the United States. Speaking at…

To access this post, you must purchase The Hot Wire, The Hot Wire (DG), Monthly Supporter​ or Monthly Supporter​ (DG).

Responses