Well, here is something that is not shocking.
In July, producer prices soared at an annualized rate of 7.8%, coming in higher than the market forecast of 7.3%. This is also up from the 7.3% boost in the previous month.
On a monthly basis, the producer price index (PPI) advanced one percent.
This comes one day after the consumer price index (CPI) surged 5.4 percent year-over-year in July, higher than the median estimate of 5.3 percent.
And yet, the Federal Reserve and the White House keep claiming this is temporary and will end any minute.
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