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CNBC/Jeff Cox/6-14-2022
“The data is significant in that prices at the wholesale level feed through to consumer prices, which are running at their highest levels since December 1981. The consumer price index increased 8.6% annually in May, defying hopes that inflation had peaked in the spring.”
USAGOLD note: As a matter of perspective, we include the long-term chart on producer prices going back to the early 20th century. The spike over the past eighteen months is an attention grabber. While the Fed talks, inflation walks……..make that runs.
US Producer Price Inflation
(%, year over year)
Chart courtesy of TradingEconomics.com
Sources: St. Louis Federal Reserve [FRED], Bureau of Labor Statistics
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