Producer Price Index Rises 8.6% From Last October, Matching Record High | The Daily Wire
The Department of Labor’s Producer Price Index, which measures wholesale prices for goods producers, showed that inflation rose 0.6% in October, and matched the record annual increase of 8.6% set in September.
The Associated Press reported that producer inflation increased by 0.6% from September to October, influenced mostly by high gas prices. Excluding those price increases and food prices, inflation rose 0.4% from month to month and 6.8% from last year.
CNBC reports that the year-over-year increase is the highest figure recorded by the Labor Department in 11 years, whose records go back as far as November 2010. The outlet reported that the increase was in line with Dow Jones estimates and indicate the continual pressures being put on the economy.
Great news. I hope more of Team Biden will come out and laugh about it again.
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