The Producer Price Index came in much hotter than expected, accelerating from last month. This comes after the higher-than-expected Consumer Price Index also accelerated from last month.
Reminder: 21 months ago, the Biden administration insisted inflation was nothing to worry about. They could not have been more wrong. Inflation is still too high and it’s getting worse.
Bottom Line: Inflation is accelerating, wages are falling, and the Biden economic plan is NOT “working.”
