Producer prices spiked TWICE as much as expected in January.
That’s according to new data from the Labor Department, which found producer prices surging 1% in January from December – twice the estimated 0.5%. From last year, wholesale prices surged 9.7%, remaining at close to the highest levels ever recorded.
Inflation is not “transitory.” It is not “peaking.” It is surging.
But what do we hear from Biden? The repeated insistence that those worried about it are a “son of a bitch” or a “wise guy.”
