Key Inflation Metric Shows High Prices Aren’t Going Anywhere

Wholesale prices beat expectations in November, a sign that inflation might not fall as quickly or steeply as previously hoped, according to CNBC.

Producers and businesses saw prices rise 0.3% from October, with so-called “core prices” rising 0.4% when the more volatile food and energy sectors were discounted, according to the Bureau of Labor Statistics (BLS). With both measures expected to rise by just 0.2%, as well as a 3.3% increase in food costs offsetting a 3.3% decline in energy costs, producers prices are still set to remain well above pre-pandemic levels, even though they have fallen from the 11.7% year-over-year surge seen in March, CNBC reported.

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Wholesale Prices Jump in January as Inflation Continues to Soar

Wholesale prices jumped a full percentage point in January and 9.7 percent over last year, the Bureau of Labor Statistics said Tuesday, as inflation continues its rapid rise.

“On an unadjusted basis, final demand prices moved up 9.7 percent for the 12 months ended January 2022,” BLS said.

That increase comes after a 0.9% increase in November and a 0.4% increase in December.

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