'WASHINGTON (AP) — Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy.
The Labor Department reported Thursday that the U.S. producer price index — which measures inflation before it hits consumers — rose at the fastest pace since hitting a record 11.6% in March.
..
Producer prices have surged nearly 18% for goods and nearly 8% for services compared with June 2021. And the Labor Department said wholesale transportation and warehousing prices shot up 23% and food prices nearly 13% from a year ago.'
-
Wholesale inflation in June surged 11.3% from a year ago, July 14, 2022
Context(Global Stagflation) - 'This situation has essentially morphed into a cost-of-living crisis..' - Dr. Hunt