• Wholesale prices soar 10% in February, highest level on record

    From Johnny@21:1/5 to All on Tue Mar 15 09:15:31 2022
    By Megan Henney
    Published 1 hour ago

    Wholesale prices accelerated again in February as strong consumer
    demand and pandemic-related supply chain snarls continued to fuel the
    highest inflation in decades.

    The Labor Department said Tuesday that its producer price index, which
    measures inflation at the wholesale level before it reaches consumers,
    surged 10% in February from the year-ago period. On a monthly basis,
    prices grew by 0.8% – a slight slowdown from January, when the gauge
    spiked by 1.2%.

    Economists surveyed by Refinitiv expected producer inflation to rise by
    10% on an annual basis and 0.9% from the previous month.


    This is the only thing the lockdown accomplished.

    Trump said the lockdown would do more harm than good, and he was right.

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