Elections have consequences, especially ones of dubious legitimacy.
The following is not surprising to those who are feeling the pinch to their wallets and purses. We can thank the runaway spending by congress for all of this along with the guy who signed the bills in the White House.
CNBC reported:
Key Points
- The producer price index, which measures wholesale prices, rose 1% in January and 9.7% for the 12-month period, the latter just off the record high.
- Core PPI rose 0.9%. Both increases were at least double the Wall Street estimates.
- Manufacturing in the New York region increased modestly in February but was below expectations. The prices received index soared to a record high.
Prices at the wholesale level jumped twice the expected level in January as inflation pressures were unabated to start the year, the Labor Department said Tuesday.
The producer price index, which measures final demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose an unadjusted 9.7%, close to a record in data going back to 2010.
Excluding food, energy and trade services, co-called core PPI climbed 0.9% for the month, well ahead of the 0.4% estimate. For the 12-month period, the measure increased 6.9%. Both core and headline PPI gains over the year were 0.1 percentage point lower than the record levels hit in December 2021.
To read more, go here.
No comments:
Post a Comment