Friday brought more confirmation of rising inflation after the United States Department of Labor said that its Producer Price Index (PPI) – which measures prices that businesses fetch for the goods and services they sell – jumped 8.3 percent in August from a year earlier, the biggest advance since the data was first measured back in November 2010.

If consumers in the United States feel like their dollar isn’t stretching as far as it used to, there’s a good reason for that.

Because it isn’t.

Friday brought more confirmation of rising inflation after the US Department of Labor said that its Producer Price Index (PPI) – which measures prices that businesses fetch for the goods and services they sell – jumped 8.3 percent in August from a year earlier.

That is the biggest advance since the data was first measured back in November 2010.

August’s PPI rose 0.7 percent from the previous month, when producer prices increased by…

Read more…

Share.

Comments are closed.