Courtesy of Joe Biden and democrats.............
https://www.marketwatch.com/story/a...bleaker-picture-for-rising-prices-11623423133
In April’s PPI report, final demand — prices received by producers upon last sale — rose 6.2%, the highest jump since the Bureau of Labor Statistics began calculating and reporting annual data in November 2010.
The April PPI report shows this component jumped 18.4% over the same period in 2021. That was the largest annual increase since February 1980. So while CPI increases are reaching levels not seen since the Great Recession, this crucial component of the PPI is increasing at rates that haven’t been touched in more than 40 years.
Prices of goods in the supply chain, as shown in this report, have been on the rise for five months. In each successive period, the increases have grown steeper. In March, prices for processed goods for intermediate demand vaulted 12.5%, following monthly increases of 6.6% in February, 3.1% in January and 1.5% in December 2020.
By contrast, in every other month in 2020, from November back to January, prices for processed goods for intermediate demand had been declining.
https://www.marketwatch.com/story/a...bleaker-picture-for-rising-prices-11623423133
In April’s PPI report, final demand — prices received by producers upon last sale — rose 6.2%, the highest jump since the Bureau of Labor Statistics began calculating and reporting annual data in November 2010.
Even more alarming
Look further up the supply chain and the latest PPI appears even more alarming. Consider the component of the index that measures the prices of processed goods for intermediate demand. This category includes materials for food production, construction, and durable and nondurable manufacturing.The April PPI report shows this component jumped 18.4% over the same period in 2021. That was the largest annual increase since February 1980. So while CPI increases are reaching levels not seen since the Great Recession, this crucial component of the PPI is increasing at rates that haven’t been touched in more than 40 years.
Prices of goods in the supply chain, as shown in this report, have been on the rise for five months. In each successive period, the increases have grown steeper. In March, prices for processed goods for intermediate demand vaulted 12.5%, following monthly increases of 6.6% in February, 3.1% in January and 1.5% in December 2020.
By contrast, in every other month in 2020, from November back to January, prices for processed goods for intermediate demand had been declining.
