Producer inflation sets record for sixth straight month
Producer prices jumped 8.6% annually in September
“Producer prices rose at the fastest annual pace on record for the sixth straight month in September as supply-chain bottlenecks and materials shortages continued to drive costs higher.”
USAGOLD note: We should keep in mind that wholesale price inflation is not just an American problem. China, for example, reported producer prices rising 10.7% year on year this morning. In short, price increases in one country can and will be passed along to other countries eventually showing up in the prices for consumer goods.
US producer prices
Chart courtesy of TradingEconomics.com