U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.
The “experts” said it was going to come down from 7.2% this month. Boy were they wrong.
Via Zero Hedge — After soaring to a record high 7.3% YoY in June, PPI was expected (like Core CPI) to moderate modestly in July to ‘just’ +7.2% YoY. They were wildly wrong as July’s PPI soared to a new record +7.8% YoY (up 1.0% MoM).
This is a frightening trend–
JUST IN – U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.
— Disclose.tv
(@disclosetv) August 12, 2021
Gas prices are up 41% in the last year!
Via FBN.
BREAKING:
*U.S. PRODUCER PRICE INFLATION JUMPS 7.8% IN JULY, LARGEST Y/Y INCREASE ON RECORD pic.twitter.com/E6rhvSy9az
— Investing.com (@Investingcom) August 12, 2021
The post THE BIDEN EFFECT: US Producer Price Inflation Soars to 7.8% Annually in July – Highest Jump On Record appeared first on The Gateway Pundit.