Friday, July 12, 2024

Producer price inflation surges so don't believe the good news the media is touting l

Producer Inflation Surges Much Higher Than Expected, Core Inflation Hits Worst Level in Over A Year


The prices paid by customers of businesses in the United States unexpectedly surged in June, undercutting confidence that inflation might be waning.

The producer price index (PPI) rose 0.2 percent last month, according to data released by the government on Friday. This was twice the increase expected by economists.

The prior month’s prices were revised up, erasing what had been shown as a slight decline. According to the revised May PPI, prices were flat in the month instead of declining 0.2 percent.

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