Producer prices in the United States have now climbed at their quickest yearly rate in more than a decade, the Labor Department said in its monthly report Tuesday.
Over the past 12 months ending in May, prices were up close to 7%, the department said in its Producer Price Index. That marks the greatest 12-month rise since late 2010.
The index showed prices rose by 0.8% in May and inflation continues to grow across the U.S. economy.
Prices for the core index — which excludes the more volatile food, energy and trade services sectors — increased 0.7% last month. The core index over the past 12 months was up 5.3%, its largest increase over that time since 2014.
Increases in prices for goods like grains, oilseeds, beef and veal and nonferrous metals led the surge in prices last month, the department said.
The increase in May topped most analysts’ expectations.
Inflation for goods in the United States rose by 1.5% in May and 0.6% for services, according to the index.
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Thanks, Crazy Uncle Joe, the Puppet Master and all those Democrat Socialist/Marxists. You people are shameless.
OF course. THEY HAVE NO SOULS…
Destroy the middle class, the middle class will then be poor and have “equity” with the poor, the rich elitists on the West Coast and East coast will still have their money and we will have a communist / dictatorship Utopia, like Venezuela, right Joe Biden?
its scary that american citizens can not see whats happening to the nation.
are there not enough of us that care?
Those who care get canceled. Or drowned out in fake ballots.
They’ve been blinded by twitter, the give-me culture, and the entitlement mentality, that they got indoctrinated with…
Building back better, Joe?
Just nOT FOR WE the american citizens..
Babbling Biden’s certainly off to a great start, and it hasn’t even been 5 months yet. He couldn’t run a hot dog cart properly. Or maybe a Kool-Aid stand would be more appropriate.
But he can run it into the ground quite efficiently — which was the purpose of his handlers all along.
And it is only going to get worse. Basic economics seems to have totally stumped the liberals. They are actively destroying our economy. But hey, at least we don’t have a ‘nice’ president who doesn’t send out mean tweets. The lack of logic by a large swath of people is astounding.
SINCE they probably don’t EVER SHOP FOR THEIR OWN STUFF, and make enough to where they care not what the prices are, THEY PROBABLY DON’T give a crud about how high they go.