Wednesday, July 14, 2021
Producer Price Inflation Surges 7.3%, Higher Than Expected
Producer Price Inflation Surges 7.3%, Higher Than Expected: Prices received by U.S. businesses for goods and services rose by much more than expected in June, the Labor Department reported Tuesday.
The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration.
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