We are used to hearing about the Consumer Price Index – CPI – but it’s not the only metric. It’s been twisted into non-reality in any case. If we used the CPI metrics we used in the ‘80s, the inflation would be 15% or more. The PPI is another metric we can use to get a handle on how the economy is going.
Inflation will be passed on to the consumer.
Wholesale inflation shot up a whopping 10% in February compared with last year. According to the Bureau of Labor Statistics, the PPI has soared ten percent in the past twelve months, including large 0.8% and 1.2% increases in February and January, respectively.
The Producer Price Index for final demand increased 0.8 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 1.2 percent in January and 0.4 percent in December 2021. (See table A.) On an unadjusted basis, final demand prices moved up 10.0 percent for the 12 months ended in February.
In February, the advance in the index for final demand can be attributed to prices for final demand goods, which rose 2.4 percent. The index for final demand services was unchanged.
Prices for final demand less foods, energy, and trade services rose 0.2 percent in February following a 0.8-percent increase in January. For the 12 months ended in February, the index for final demand less foods, energy, and trade services moved up 6.6 percent.
The cause was “final demand” which was caused in large part by gas supply and costs.
Nearly 40 percent of the February increase in prices for final demand goods can be attributed to the index for gasoline, which rose 14.8 percent. Prices for diesel fuel, electric power, jet fuel, motor vehicles and equipment, and dairy products also advanced.
Biden and the BLS can blame Putin but Biden is to blame for beginning the destruction of ur fossil fuel industry. We are on a suicidal path to destruction.
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