Economics
U.S. Producer Prices Post the Biggest Annual Gain Since 2010, Fanning Inflation
- PPI climbs 9.6% from year earlier, most in data to 2010
- Labor Department data show broad advance in goods, services
This article is for subscribers only.
Prices paid to U.S. producers posted a record annual increase of almost 10% in November, a surge that will sustain a pipeline of inflationary pressures well into 2022.
The producer price index for final demand increased 9.6% from a year earlier and 0.8% from the prior month, Labor Department data showed Tuesday. Both advances topped economists’ forecasts.