Producer Price Index Surges to 9.7%, Highest Recorded

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The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, surged 9.7% in December from the year-ago period. It marked the highest figure on record since the government began tracking the data in 2010.

The producer price index (PPI) for final demand, which tracks prices charged for goods and services that are not a part of other products, rose nearly 10 percent last year as a sharp economic rebound strained supply chains.

This is just one more bit of bad news, but some economists say it will continually improve. Just temporary, nothing to see here. The only problem is everything our government is doing will exacerbate it.

“Despite annual figures that are tracking at historic highs, moderation in the monthly data supports our view that producer prices will gradually descend as 2022 progresses, especially in the second half of the year,” wrote Mahir Rasheed, U.S. economist at Oxford Economics, in a Thursday analysis.

 


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4 COMMENTS

  1. Economic illiterate Marxists who view human nature as a construct of the white male imperialism are sure to bring back the misery index to boos and hisses as part of the burn it all down plan.
    Will there be anything left for Stacy Abrams (Dominion-SmartMatic) in 2024?

    This just in from Jimmeh Carta, Thanks Brandon!

  2. Even my sister, who is a San Francisco College indoctrinated Liberal has buyers remorse because she voted for Traitor Joe. When I look at Traitor Joe, 0bama and Carter weren’t so bad after all.

  3. Shades of the Soviet Union collapse with the empty shelves unity?
    The USSR collapse wasn’t intentionally engineered by a fifth column of traitors, it was a command and control economy versus capitalism.
    No Reagan or Iron Lady around this time.

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