Wholesale prices jump 6.6% in the fastest
rise on record as soaring inflation threatens
economic recovery
Daily Mail (UK) & Wires,
by
Keith Griffith
Original Article
Posted By: Imright,
6/16/2021 1:56:32 AM
Wholesale prices in the U.S. increased at their fastest annual rate ever in May, driven by rising food prices, as soaring inflation threatens to derail the post-pandemic economic recovery.The producer price index, which measures inflation pressure before it reaches consumers, rose 0.8 percent in May for an annual gain of 6.6 percent, the biggest jump since annual data was first compiled in 2010, the Labor Department said Tuesday.The annual gain is somewhat skewed by a 'base effect' from last year's data, when prices plunged early in the pandemic,
Reply 1 - Posted by:
SALady 6/16/2021 1:59:43 AM (No. 817171)
Biden-nomics at its "best" -- because it's going to get a whole lot worse!!!
Seriously, if you want something, go buy it now. Because by the time the Republicans hopefully ride in and retake Congress in 2022 to stop this insanity, your money may not be worth the paper it is printed on.
35 people like this.
Reply 2 - Posted by:
DVC 6/16/2021 3:06:46 AM (No. 817182)
Going from the best economy in half a century under Trump, to this total hideous disaster in only 120 days. Gotta be a world record for destroying an economy.
50 people like this.
Reply 3 - Posted by:
NotaBene 6/16/2021 3:10:54 AM (No. 817184)
Biden&Ho = Jimmy Carter. Stagflation = Recession plus inflation, when the Fed lowering interest rates has no effect. With oil at $71 a barrel, drill baby drill. 100% tariffs on China so they pay for what they did to their betters. Cut Minority welfare payments so they will come back to work again. Stop sanctuary for Illegal Aliens and wages will go up. The best President of the 21st century, Donald Trump the Great, he from which the election was stolen, already showed that America First works. Persecuting White American patriots will take the Democrats nowhere because we are the workers and thanks to Trump are wealthy now. We will overcome Marxism.
27 people like this.
Reply 4 - Posted by:
jj1319 6/16/2021 4:43:29 AM (No. 817203)
6.6% is probably putting a flower on it. Revised figures will be much higher.
36 people like this.
Reply 5 - Posted by:
franq 6/16/2021 5:56:06 AM (No. 817228)
Recently got a notice in the mail that our natural gas supplier is petitioning for a 10% rate hike.
15 people like this.
Reply 6 - Posted by:
DW626 6/16/2021 6:05:23 AM (No. 817233)
Well at least there’s no more mean tweets from the Orange Man Bad.
23 people like this.
Reply 7 - Posted by:
Kafka2 6/16/2021 6:50:14 AM (No. 817253)
When the Treasury runs the printing presses 24 hours a day, 365 days a year so the Federal government can spend many trillions of dollars we will be lucky if inflation is no more than 6.6 percent.
17 people like this.
Reply 8 - Posted by:
homefry 6/16/2021 6:52:37 AM (No. 817255)
THAT is what dim-0s do. Look back at EVERY time dim-0s gain power. The economy slides South.
20 people like this.
Reply 9 - Posted by:
LanceLink1 6/16/2021 6:55:01 AM (No. 817257)
Nothing to see here. It's only temporary and besides this is reported from the UK. So it's fake rhetoric. And when was the last time you heard a mean tweet?
Eighty million my arse.
14 people like this.
Reply 10 - Posted by:
Rinktum 6/16/2021 6:56:15 AM (No. 817258)
I see the bloodless coup d’etat is rolling right along. Destroying the economy is an essential part of their strategy. I cannot believe how many people are willingly going to accept this.
28 people like this.
Reply 11 - Posted by:
skacmar 6/16/2021 8:05:10 AM (No. 817330)
Rising food prices are a part of the Biden health plan. There are too many overweight people in the US. When food prices rise, people can't afford as much food so they will lose weight (Democrat thinking). Same with gas prices. Rising gas prices equals less driving. Inflation is a good social control tool utilized with skill by Biden and friends.
9 people like this.
Right now....I'm in a state of reverie, pining for the good old days of Jimmy Carter
8 people like this.
Reply 13 - Posted by:
Dodge Boy 6/16/2021 8:36:46 AM (No. 817377)
Sooner or later the Fed will have to come clean and recognize that these inflation pressures are not temporary. The Fed will be forced to raise interests rates in the not too distant future. Then kaboom...the real estate market will crater and the Fed will have lost control.
10 people like this.
Reply 14 - Posted by:
Zigrid 6/16/2021 8:37:51 AM (No. 817379)
Time to stock up on essentials and fill the cupboards....go back to shopping locally and using the US dollar...chi/coms trying to keep track of your buying with the help of amazon and google ...let the snowflakes rant and rave on facebook and tweeter....they are not shoppers... they mostly live in their mamma's basement and come out at night to riot and loot honest businesses...show Washington DC where the real money is...out here in the real world...
7 people like this.
Reply 15 - Posted by:
stablemoney 6/16/2021 8:43:44 AM (No. 817392)
This is 6 mos. into Bidenomics. More spending packages being lined up by the Democrats, including an infrastructure package of the U.S., and a second one for the world. We are into QE4 already, and now Infrastructure 2. A climate change package coming. But before that, Biden says he wants to send out, I have lost count on this, but I think a 5th stimulus check. And then, everyone's debt is to be forgiven. Supplemental unemployment benefit packages are definitely coming, and soon. It is no longer possible to add it all up. The Congressional Budget Office no longer is even summoned before Congress, as the spending is so far out of hand that they will not appear, and Democrats in Congress will not call them, and do not even know who heads that up.
5 people like this.
Reply 16 - Posted by:
Venturer 6/16/2021 8:44:31 AM (No. 817395)
The Democrat plan. Watch the best economy the country ever had, and do the opposite.
8 people like this.
Reply 17 - Posted by:
NamVet70 6/16/2021 9:03:00 AM (No. 817427)
Of course, we get the news from the Daily Mail. The fake news in the USA won't touch this story. The dollar is going to dive in value. The progressive's $15 minimum wage will be worth about as much last year's $6.50 and the Social Security check will be going down in value also because any cost of living benefit will be based on a carefully select basket of goods which minimizes the real rise and will also will lag the true cost in time as much as the progressives can delay it.
3 people like this.
Reply 18 - Posted by:
LC Chihuahua 6/16/2021 9:19:32 AM (No. 817455)
What has Biden's Bandits done to cause this? They shutdown Keystone XL, but this seems more. Its massive. What policy has been changed that has caused prices to jump so fast? Nobody seems to be talking about it. Its being kept tightly under wraps. Congress has to know which means the Republicans have to know, but not one word.
4 people like this.
Reply 19 - Posted by:
mc squared 6/16/2021 10:42:20 AM (No. 817526)
It's re-distribution by inflation. Give to favorite groups and countries to be paid by working Americans.
3 people like this.
Reply 20 - Posted by:
PrayerWarrior 6/16/2021 11:30:22 AM (No. 817574)
Inflation, if you add in all factors like lumber, durable goods, etc., is really 18%. We also checked our former home in Santa Rosa CA and gas prices are way over $4 gal. Glad we moved, but Idaho gasoline has gone from $1.98 gal to a range of $3.29 to $3.45 gal. Awful. President Trump, we miss you!
We are having a building boom here, even with the high price of building, but people can't get out of CA fast enough!
4 people like this.
Reply 21 - Posted by:
moebellini3 6/16/2021 2:03:57 PM (No. 817695)
It's called economic suicide. The way to destroy a country. Along with indoctrination of our children, allowing the democratic voter, better known as parasites, to feed off of the taxpayer, allowing the climate change marxists to dictate our way of living and voting in a gutless congress that have American haters like the squad setting policy..... Wake up now......
2 people like this.
Reply 22 - Posted by:
Miceal 6/16/2021 10:16:54 PM (No. 817941)
What economic recovery? All Quid Pro Joe the Fraud needed to do was adopt all of President Trump's policies and then claim them as his own...
0 people like this.
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