The Producer Price Index was at nearly 10% (or 9.7%) in December, the highest ever recorded since records were kept starting in 2010. This is yet another key indicator of how bad Joe Biden’s inflation really is. Things are getting worse, not better as shelves continue to run bare.
Thanks Joe Biden! But also thanks all the communist Democrats in congress who enabled these reckless policies.
Producer prices rose 9.7 percent in 2021, according to data released Thursday by the Labor Department, the fastest calendar year increase on record.
The producer price index (PPI) for final demand, which tracks prices charged for goods and services that are not a part of other products, rose nearly 10 percent last year as a sharp economic rebound strained supply chains. The increase marks the fastest annual jump in the PPI since the Labor Department began compiling the data in 2010.