Producer prices spiked again last month.
Tue, May 14th 2024 at 11:12 AM403123 07: Thousands of truck-sized 30-ton shipping containers are stacked aboard the Hanjin Oslo freighter in the Port of Los Angeles March 29, 2002 in Los Angeles, CA. Freigters in the port, averaging 800 feet in length and carrying 4,000 containers, will be replaced with ships over 1,000 feet long that can carry 6,600 containers.
“Stripping out food and energy, PPI was still a hot print, and you can clearly see the pace of increase since June '22 has consistently been hotter than the pre-pandemic trend, after rocketing higher Jan '21 and Jun '22,” Heritage Foundation Economist E.J. Antoni wrote on X, formerly known as Twitter.“The index for final demand services moved up 0.6% in April, the largest rise since jumping 0.8% in July 2023,” BLS said.
previously reported, the National Federation of Independent Businesses released a survey of small business owners which showed they cite inflation as their top business concern. NFIB reported that about 22% of small business owners cited inflation as their top concern in running their business, and that small business optimism remains low at “the 28th consecutive month below the 50-year average.”
Inflation Final Demand Services Final Demand Goods Energy Costs U.S. Bureau Of Labor Statistics Small Business Owners E.J. Antoni
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