The U.S. producer price index (PPI), which measures what American producers of goods and services are paid on average over time, hit a record unadjusted increase of 9.7% over the last 12 months, according to an announcement Thursday from the Bureau of Labor Statistics .
The previous record 12-month increase occurred the previous month at 9.6%. The federal government started tracking the PPI in 2010.
More than half of the PPI increase in 2021 came from the increase in the cost of trade services. The cost of stage 1 intermediate demand goods, which includes basic chemicals, natural gas and hardware, increased […]
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