Producer Prices Blow Out
Inflation that producers are experiencing is now blowing out. The surging input costs and the ability to pass on those higher input costs that have been reported by company executives as part of the services PMIs [Purchase Managers’ Index] and manufacturing PMIs, and that owners of small businesses have told me about for months, have now solidly fired […]
Producer Inflation Surges Much Higher Than Expected
Government data released on Friday showed the producer price index (PPI) rose 0.2% last month, double the rate of increase economists had expected. Prices for the previous month were revised upwards, erasing what had been shown to be a slight decline. The revised producer price index for May showed prices were flat for the month, […]
Inflation unexpectedly rose to 2.7% in June in producer price index
Inflation as measured by the producer price index rose to 2.7% for the year ending in June, the Bureau of Labor Statistics reported Friday, some bad news for the Federal Reserve and President Joe Biden. Economists had forecast a slight rise in inflation from 2.2% in May. On a month-to-month basis, the producer price index increased by 0.2 percentage points, more than expected. […]