More Bad News: Wholesale Inflation Jumps 11.2 Percent

From the story: The Labor Department said Wednesday that its producer price index – which tracks inflation before it hits consumers – jumped 1.4 percent in March from the prior month and 11.2 percent from a year ago. It is the largest 12-month increase in wholesale prices since annual rates were first calculated in 2010, adding to pressure on President Joe Biden as inflation emerges as a top voter concern (Daily Mail). From Andy Puzder: On Wednesday, the BLS shared their latest data for the Producer Price Index (PPI), which measures the prices paid by wholesalers for their goods. Over the past year, it surged by 11.2%, the highest yearly growth on record. The prices wholesalers pay inevitably make their way to retail prices at gas pumps, grocery stores and just about everywhere else consumers shop. Later: Everywhere you look, Biden is setting new economic records — and not the good kind. Every month, Americans await the latest CPI data to find out not whether, but rather how much inflation increased in the past month. It’s become a morbid ritual (Fox News).