Inflation Surges Past Expectations Again

[mystery-ak]

Inflation Surges Past Expectations Again

Spencer Brown
 |  December 09, 2022 10:15 AM

In one of the final economic reports of 2022, the Biden administration again saw the fruit of its "build back better" policy efforts in the Producer Price Index's hotter-than-expected read for November. 

The PPI report — measuring inflation upstream from consumers — showed an increase of 0.3 percent in November's headline number for an advance of 7.4 percent over the previous 12 months while 7.2 percent PPI inflation had been the consensus estimate. 

Among the items that drove inflation past estimates, specifically in the increased costs for final demand goods, was the index for fresh and dry vegetables that spiked 38.1 percent in November, while prices for eggs and meats also increased.

Notably, as seen in the chart below showing the PPI month-over-month changes, increases have moderated from their 40-year highs earlier in 2022 but the headline number has remained steady since the summer while core PPI inflation — excluding more-volatile food and energy prices for producers — is again turning upward. 

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https://twitter.com/KathyJones/status/1601209015668592641

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https://townhall.com/tipsheet/spencerbrown/2022/12/09/inflation-surges-past-expectations-again-n2616960

[Kamaji]

Past whose expectations?  The willfully blind?

[catfish1957]

Past whose expectations?  The willfully blind?

Blind indeed. 

If any one truly thinks this nation's inflation rate is 7.4%.....  Let me know.

I just ran the numbers for 2023 planned ( I do a normal, austere, and emergency) budget, and very precisely my  anticipated costs are up 13.12%.  And that takes out all the costs associated with having an old infirmed pet.

[DefiantMassRINO]

Just went to the grocery store ... still much inflation and supply chain disruption.

[Fishrrman]

Crude oil has been creeping downward over the last week or two.

It's at $71 right now, I'm thinking we may see it drop below $70 next week.

How long has it been since crude was in "the 60's" ...?

[Smokin Joe]

Crude oil has been creeping downward over the last week or two.

It's at $71 right now, I'm thinking we may see it drop below $70 next week.

How long has it been since crude was in "the 60's" ...?

Low prices are their own cure. We aren't producing enough for our own use now, and that will only make that worse. (Think someone might have planned it that way?)

[Smokin Joe]

Just went to the grocery store ... still much inflation and supply chain disruption.

$7+ for a modestly sized head of cauliflower...fuhgeddaboutit.

[libertybele]

Low prices are their own cure. We aren't producing enough for our own use now, and that will only make that worse. (Think someone might have planned it that way?)

Indeed, and yes, someone planned it that way.