Another Biden record – Inflation based on the producer price index reaches the highest increase ever recorded.
This morning the producer price index results were reported and they literally could not be worse.
JUST IN – U.S. producer price inflation jumps 9.6% year over year in November, much higher than expected and highest increase on record.
— Disclose.tv (@disclosetv) December 14, 2021
The US Bureau of Labor Statistics reported this morning:
The Producer Price Index for final demand increased 0.8 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.6 percent in each of the 3 prior months. (See table A.) On an unadjusted basis, the final demand index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010.
In November, the index for final demand services rose 0.7 percent and prices for final demand goods increased 1.2 percent.
The index for final demand less foods, energy, and trade services moved up 0.7 percent in November, the largest rise since climbing 0.8 percent in July. For the 12 months ended in November, prices for final demand less foods, energy, and trade services increased 6.9 percent, the largest advance since 12-month data were first calculated in August 2014.