The Bureau of Labor Statistics’ Producer Price Index rose one percent compared with June, matching the June rise and outpacing the 0.6 expected. Compared with a year ago, the index is up 7.8 percent, the biggest annual increase in decades.
Excluding food and energy, PPI rose by one percent on a monthly basis and 6.2 percent on an annual basis. Excluding food, energy, and trade services, pries rose nine-tenths of a percentage point and 6.1 percent compared with a year ago.
In other words, instead of cooling off, inflation continued to sizzle in July.
Originally found on Breitbart Read More
