(Worthy News) – Producer prices increased a blistering 10% for the year ending in February, according to a report Friday from the Bureau of Labor Statistics, the highest on record.
The inflation rate in Tuesday’s producer price index report was up 0.2 percentage points from the previous month and is the highest in the gauge’s 11-year history.
Tuesday’s news signals more pain to come for households. The producer price index gauges the wholesale prices of goods, which are eventually passed down to consumers. [ Source: Washington Examiner (Read More…) ]
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