Inflation Numbers Run Hot, Bidenomics Take Over

  • by:
  • Source: CNBC
  • 03/14/2024

Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.

The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January.

Excluding food and energy, the core PPI accelerated by 0.3%, compared with the estimate for a 0.2% increase. Another measure that also excludes trade services rose 0.4%, compared with the 0.6% gain in January, and was above the estimate for a 0.2% advance.

On a year-over-year basis, the headline index increased 1.6%, the biggest move since September 2023.

Biden Speaking on Bidenomics by Adam Schultz is licensed under White House White House
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