Producer Price Inflation Surges 7.3%, Higher Than Expected

[mystery-ak]

Producer Price Inflation Surges 7.3%, Higher Than Expected

John Carney 14 Jul 2021

Prices received by U.S. businesses for goods and services rose by much more than expected in June, the Labor Department reported Tuesday.

The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration.

Economists had been expecting an increase of 0.6 percent, below the 0.8 percent initially reported for May. On a 12-month basis, the consensus forecast was for 6.8 percent.

Nearly 60 percent of the June advance in the index can be traced to a 0.8-percent increase in prices for final demand services. The index for final demand goods moved up 1.2
percent. Seventy percent of PPI’s gain is attributable to margins for trade services, which moved up 2.1 percent. (Trade services measure changes in margins received by wholesalers and retailers rather than changes in prices.)

more
https://www.breitbart.com/economy/2021/07/14/producer-prices-surge-7-3-higher-than-expected/

[Hoodat]

How could they not expect this after increasing the money supply as much as they did?

[DefiantMassRINO]

Liberals can't do math and don't understand market economics.

[GtHawk]

How could they not expect this after increasing the money supply as much as they did?

Don't forget Biden's assistance by making fuel costs rise by a dollar or more and the democrats forcing up labor costs by forcing employers to offer much higher pay to try and find employees to replace the ones sitting on their asses collecting an extra $1200 dollar a month taxpayer unemployment benefit. I can't wait to hear all the crying, screaming and tantrums when these people realize that all those unemployment dollars are taxable income which practically none will have had tax deductions withheld. Oh yeah, April 15 next year should be highly entertaining.

[libertybele]

Don't forget Biden's assistance by making fuel costs rise by a dollar or more and the democrats forcing up labor costs by forcing employers to offer much higher pay to try and find employees to replace the ones sitting on their asses collecting an extra $1200 dollar a month taxpayer unemployment benefit. I can't wait to hear all the crying, screaming and tantrums when these people realize that all those unemployment dollars are taxable income which practically none will have had tax deductions withheld. Oh yeah, April 15 next year should be highly entertaining.

Though nothing to do with inflation, I am seeing many signs at the cash registers requesting the exact amount as there is a "national coin shortage". 

So .... they are pushing for a universal card to pay for everything which will be monitored by the gov't?  Only problem is, with all the hacking and the corruption of our gov't .... poof your money can be wiped out in a nano second. 

We need to go back to the gold standard AND No more Federal taxes!

[GtHawk]

Though nothing to do with inflation, I am seeing many signs at the cash registers requesting the exact amount as there is a "national coin shortage". 

So .... they are pushing for a universal card to pay for everything which will be monitored by the gov't?  Only problem is, with all the hacking and the corruption of our gov't .... poof your money can be wiped out in a nano second. 

We need to go back to the gold standard AND No more Federal taxes!

I saw those some time ago in the middle of the shut down, I think it had more to do with the severely reduce transactions that would have brought loose change into the stores and banks, instead the coin just stayed in people homes instead of circulation. When I ran restaurants the flow was usually coins coming my way so much that I sent excess in my deposits, other times the majority of customers payed with bills only and I had to make runs to the bank to buy more coin 
I don't think paying by card instead of cash is going to fly, people like to get their change in hand where they can see it and put it in jars at home like a savings account.