Wholesale Prices Rise 0.2 Percent in December With Inflation at a 40-year High

Wholesale prices in the United States rose 0.2 percent in December, with total prices skyrocketing 9.7 percent in 2021, the highest 12-month period on record going back to 2010, according to the producer price index (PPI). This was at half the 0.4 percent Dow Jones estimate, but consumers are still feeling the pinch, with inflation running nearly at a 40-year high, according to a Jan. 13 Labor Department report. However, it was a major drop-off from November 2021, with the PPI rising by 1 percent, up from 0.6 percent in October. The total numbers for 2021 are far above the 0.8 percent increase in 2020 and the 1.4 percent rise in 2019. This comes after the Jan. 12 Consumer Price Index report showed inflation in 2021 rising 7 percent from the previous year, the biggest 12-month gain since June 1982. The PPI is a key indicator of real growth by adjusting revenue …

Originally appeared on The Epoch Times

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