A new key inflation metric has now come in double what most economists where expecting, raising a new red flag about potentially uncontrollable inflation going forward.
As The Hill reports:
Prices charged by producers rose 1 percent in January, according to data released Tuesday by the Labor Department, twice the jump projected by economists.
The producer price index (PPI) for final demand, which tracks wholesale prices for goods and services, rose far higher than the 0.5 percent consensus estimate in January. On an annual basis, the PPI for final demand was up 9.7 percent, in line with a record set in December.
Supply chain disruptions, labor shortages, COVID-19 containment measures and other pandemic-related obstacles have hindered manufacturers and suppliers from meeting a rush of consumer demand. The global squeeze has driven prices higher for businesses, prompting a sharp increase in consumer prices as well.
The Labor Department pinned more than 40 percent of the total January increase in the PPI for goods on a 0.8 percent increase in prices for consumers goods other than food and energy products. A 1.6 percent increase in outpatient medical care costs was also a “major factor” in the PPI jump, the department explained.
A separate measure, the CPI (Consumer Price Index), also recently came in much hotter than expected, posting a 7.5 percent increase in January 2022.
Yes I do think that they are pulling the trigger on the dumbacrats because they are all a big bunch of liers and criminals just like the Biden family is a big bunch of liers and criminals who are trying to rule our country like a dictator
Someone needs to terminate the dumbass
Be careful what you write like that, the KGB I mean the FBI monitor direct threats to government officials. Just a word of caution my friend
Don’t try to talk “metrics” with Slow Joe Depends. He’ll just tell you that he has a gas metric and an electricity metric at his house and they have done no harm that he knows of.
Bravo!
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