Published March 14, 2024
A key gauge of inflation surged higher in February, confirming that the pace of inflation has accelerated as the new year has got underway.
The producer price index, which measures the prices paid to U.S. businesses for their goods and services, rose by 0.6 percent in the second month of 2024, the Department of Labor said Thursday.
This was twice the rate of inflation in the producer price index, or PPI, recorded in January and twice what Wall Street was expecting.
Compared with a year ago, the index is up 1.6 percent, a significant acceleration from the 0.9 percent 12-month increase recorded in January. Economists had forecast a 1.2 percent increase.
This was the fastest monthly gain since August of last year and the highest yearly gain since September. The producer price index has risen in three out of the last four months.
READ FULL ARTICLE
SOURCE: www.breitbart.com
RELATED:
TOO LATE: Biden Treasury Secretary Janet Yellen Says She Regrets Saying That Inflation Was ‘Transitory’
Published March 13, 2024
During a recent appearance on the FOX Business Network, Biden Treasury Secretary Janet Yellen said that she regrets her previous claim that inflation was transitory.
That’s quite an admission.
In January of this year, Yellen conceded that Americans are not likely to see prices come down any time soon, contradicting comments from Biden.
Is someone slipping truth serum into her coffee?
