Prices continue to soar

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Prices jumped 7.3% from a year ago and accelerated by the most on record in June, Fox Business reports.

A year ago, everything was shut down.

The producer price index for final demand rose 1%, accelerating from a 0.8% increase in May and a 0.6% increase in April, the Labor Department said Wednesday. Analysts surveyed by Refintiiv had expected a 0.6% increase.

Prices rose at a 7.3% annual pace, ahead of the 6.8% pace that was expected and up from a 6.6% increase in May.

Steve Forbes, the chairman an editor-in-chief of Forbes Media, has argued that the Federal Reserve’s policies have led to long-lasting inflation and more government spending will only make it worse on FOX Business’ “Varney & Co.”

“Inflation’s here for a while. We’re getting the whirlwind of what was done last year and the year before. Even before COVID, the Fed was printing too much money. They went on a binge last year, perhaps for understandable reasons, but they overdid it. ”

On that note, the Democrats plan to spend $4.5 trillion without one Republican vote and they’re not done yet.

Stocks go down as inflation goes up.


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