Inflation Rises 10% On Producer Price Index – Highest Ever

Joe Biden once again set an inflation record – and not in a good way.

Producer prices rose 10% for the year ending in February.

This is the highest ever recorded.

From The Washington Examiner:

Producer prices increased a blistering 10% for the year ending in February, according to a report Friday from the Bureau of Labor Statistics, the highest on record.

The inflation rate in Tuesday’s producer price index report was up 0.2 percentage points from the previous month and is the highest in the gauge’s 11-year history.

Tuesday’s news signals more pain to come for households. The producer price index gauges the wholesale prices of goods, which are eventually passed down to consumers.

The news came just days after a report for the month of February found consumer prices increased by 7.9% — the fastest annual rate in four decades. The high rate of inflation has damaged President Joe Biden politically and undercut support for his spending proposals.

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