Article

2021-08-13 Economy

July Inflation in USA was unexpectedly high

Unexpectedly, indeed.

[FoxBusiness] Producer prices accelerated at the fastest annual pace on record in July as supply chain disruptions and materials shortages continued to put upward pressure on costs.

The producer price index for final demand increased at a 7.8% pace for the 12 months ended July, according to the Labor Department. The July print was faster than the 7.3% pace recorded in June and ahead of the 7.3% rate that analysts surveyed by Refinitiv were expecting. The reading was the strongest since recordkeeping began in November 2010.

Producer prices rose 1% in July, matching the increase from June. Analysts were anticipating prices would grow at a 0.6% pace.

Posted by Clotle Jinegum5056 2021-08-13 00:00|| || Front Page|| [11135 views ] Top

#1 Wholesale prices soar 7.8% in the biggest surge on record as steel jumps 23% - adding pressure on companies to pass on higher costs to consumers

Posted by Skidmark 2021-08-13 07:03|| 2021-08-13 07:03|| Front Page Top

#2 -adding pressure on companies to pass on higher costs to consumers

Strange how they comprehend that but don't understand why raising taxes on business doesn't result in the same effect.

Posted by Procopius2k 2021-08-13 08:50|| 2021-08-13 08:50|| Front Page Top

#3 "unexpectedly"

I do not think that word memes what you think it memes.

Posted by Mercutio 2021-08-13 09:50|| 2021-08-13 09:50|| Front Page Top

#4 Unexpectedly.

Posted by swksvolFF 2021-08-13 18:47|| 2021-08-13 18:47|| Front Page Top

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