The Bureau of Labor and Statistics (BLS) released the August review [DATA HERE] of producer prices for last month. August rose 0.7% with cumulative results now showing an 8.3% increase in prices; the largest year-over-year jump in prices for final demand products in the history of tracking. The prior record was July with 7.8%.
Inflation is skyrocketing for consumer goods at all levels of production: Origination (commodity/raw material), Intermediate (Mfr/Wholesale) and Final products (retail).
In part, the extreme upward cost pressure from escalating fuel and energy costs are accumulating throughout the supply chain and surfacing in the prices of the finished products. We are all witnessing this in the prices at stores; especially in the quick turning products, like groceries (fast turn consumable goods), which reflect price increases the fastest.
Final demand prices moved up 0.7 percent in August, 1.0 percent in July and 1.0 percent in June. The year-over-year inflation rate on final demand products now stands at 8.3%.
MEDIA – […] “The data comes amid heightened inflation fears fed by supply chain issues, a shortage of various consumer and producer goods and heightened demand related to the Covid-19 pandemic. Federal Reserve officials expect inflationary pressures to ease through the year, but they have remained stubbornly persistent, with Friday’s numbers indicating that the trend likely will continue.
Eyes of a mouse. Ears of an elephant. Heart of a lion, and the mindset of an insurgent.
New South Wales, Australia, Health Minister Kerry Chant is one of the primary COVID engineers in the key state containing the largest population and the capitol city of Sydney. Dr. Kerry Chant is a rather motley totalitarian creature, with a face for radio, who leans heavily in favor of massive big government control and restrictions.
