The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on March 14, 2024, 01:07:05 pm
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Inflation rose to 1.6% in February in producer price index, much hotter than expected
By
Zachary Halaschak
March 14, 2024 8:33 am
Inflation, as measured by the producer price index, rose to 1.6% for the year ending in February, the Bureau of Labor Statistics reported Thursday, much hotter than expected.
The increase came after a slight decrease the month before. Most economists had forecast the inflation rate would rise to 1.1%, so the latest numbers are not good news for the Federal Reserve.
On a month-to-month basis, the price index increased by 0.6%, double what was expected.
The new inflation numbers come the same week the more closely watched consumer price index report for February was released. As measured in the CPI, inflation unexpectedly rose to 3.2% for the year ending in February, the Bureau of Labor Statistics reported Tuesday, an unwelcome development given hopes that the central bank would soon begin trimming interest rates.
more
https://www.washingtonexaminer.com/policy/finance-and-economy/2919514/inflation-rose-to-1-6-in-february-in-producer-price-index-much-hotter-than-expected/
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We're doomed. Middle class is done.
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We're doomed. Middle class is done.
Doubter
I saw a commercial yesterday with Biden saying how he’s working for the American people. Why do you doubt him?
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Everyday Americans have for the first time ran up their credit card debt to $1T by necessity. This is debt being serviced by a 15% interest rate. This means there is big chunk of folks who will never dig out, without financial ruin.
One of the biggest financial stories in 2025 will be the debt crisis, and domino effect it will have on Financials.