Wednesday, June 16, 2021

Bad news but expected

Wholesale prices jump 6.6% in the fastest rise on record as soaring inflation threatens economic recovery

  • Data released Tuesday shows US producer prices jumped 6.6% annually in May
  • It is the largest jump for the index since annual data was first kept in 2010 
  • Deutsche Bank warns inflation could become 'devastating' if trends continue
  • Republicans blame Fed's loose money policy and massive fiscal stimulus  

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