Don't let them tell you otherwise.
A key measure of prices of goods and services sold by U.S. businesses showed inflation accelerated again in November.
The producer price index rose 0.3 percent in November from October, the Labor Department said Friday. The producer price indexes for September and October were revised up from 0.2 percent to 0.3 percent, indicating inflation was already running hotter than previously thought.
Forecasters had expected prices to rise by 0.2 percent, matching the preliminary reported rate in the previous two months.
Over the past 12 months, the producer price index is up 7.4 percent, higher than the 7.2 percent forecast by analysts surveyed by Econoday....
Do you like to eat?? Sorry to hear that.
...Food inflation really heated up. The producer price index for food rose a nose-bleeding 3.3 percent in November, led by a 38.1 percent increase in the prices of fresh and dry vegetables. Energy prices offset this by falling 3.3 percent, including a six percent decline in the price of gasoline. The index for goods excluding food and energy rose 0.3 percent. The total goods index was up 0.1 percent....
Substitute 'gasoline' for 'stew' and you'll be just fine. That's what the Biden Administration will be saying next week.
And they think you'll believe it just because they said so.
No comments:
Post a Comment