Yikes: Wholesale inflation spikes up to new record 9.7% for 2021

[Legion]

A key inflation measure climbed to a record high in 2021.

The US producer price index, which tracks what America’s producers get paid for their goods and services on average over time, rose 9.7% last year, not adjusted for seasonal swings.

It was the biggest calendar-year increase since the data series began in 2010, according to the Bureau of Labor Statistics.

https://www.cnbc.com/2022/01/13/wholesale-prices-up-0point2percent-in-december-less-than-expected-but-still-a-new-12-month-record.html

[Legion]

The number of Americans filing first-time claims for unemployment benefits rose last week to 230,000, the Labor Department reported on Thursday.

The number is 23,000 higher than the prior week’s 207,000. The four-week moving average was 210,750, an increase of 6,250.

“The question now is whether inflation will peak over the coming months, or if continued price pressures will prompt the Fed to remove monetary accommodation more aggressively,” BCA Research wrote in a note to clients Thursday.

“Our base case is that CPI inflation will moderate over the coming 6-12 months as the pandemic situation improves which will ease supply-side disruptions and support a rotation in demand from goods to services,” the note added.

“Businesses are worrying about rising input and wage costs, while households are distressed at the surging consumer prices, and they both have cause for concern,” economist Joel Naroff said in a statement Wednesday. “Inflation jumped again in December, though the pace was down from what we saw in October and November. Since December 2020, prices were up 7%, an increase not seen since the wage/price inflation spiral days in the early 1980s. Excluding food and energy, the rise over-the-year was the greatest in 30 years.”


https://www.usnews.com/news/economy/articles/2022-01-13/jobless-claims-rose-last-week-wholesale-inflation-hit-a-record-in-december

[Stone]

Not good,....not good at all. I hear tell that it is mighty hard for politicians running to get re elected with those kinds of horrible economic numbers.

[T. A. Gardner]

https://news.gallup.com/poll/167873/...%2015%20issues.

It's pretty damn clear that the Democrats are not focused on what Americans think is the biggest problems facing the country but rather on consolidation of power for themselves. They are going to get royally ass fucked in November.

[Earl]

Wholesale inflation spikes up to new record 9.7% for 2021

Good grief.

These incompetent boobs are destroying our country and harming Americans.

[anatta]

OMG

[ExpressLane]

But there are no mean Tweets!

[Legion]

It's pretty damn clear that the Democrats are not focused on what Americans think is the biggest problems facing the country but rather on consolidation of power for themselves. They are going to get royally ass fucked in November.

Polls?



What makes you think they can't steal the midterms, too?

[Legion]

I hear tell that it is mighty hard for politicians running to get re elected with those kinds of horrible economic numbers.

Not if they're DEMOCRATS.

[Earl]

Polls?



What makes you think they can't steal the midterms, too?

The Republicans had an army of lawyers and poll watchers at the Virginia elections.

They swept the field.

Hopefully, this will happen again in November.

One can only hope for fair elections.

[Legion]

The Republicans had an army of lawyers and poll watchers at the Virginia elections.

What makes you think the GOP can muster that kind of election integrity again?

Now the DEMOCRATS know what they must do, like they did in New Jersey at the same time.

[Poor Richard Saunders]

https://news.gallup.com/poll/167873/...%2015%20issues.

It's pretty damn clear that the Democrats are not focused on what Americans think is the biggest problems facing the country but rather on consolidation of power for themselves. They are going to get royally ass fucked in November.

It's a good thing it's not 2014. I don't think the Democrats have to worry about what people thought 8 years ago in the upcoming election.

[Stone]

What makes you think the GOP can muster that kind of election integrity again?

Now the DEMOCRATS know what they must do, like they did in New Jersey at the same time.

We have some other tricks up our sleeve. Where they will stay safely tucked until election day.

[Earl]

What makes you think the GOP can muster that kind of election integrity again?

Now the DEMOCRATS know what they must do, like they did in New Jersey at the same time.

There is a glimmer of hope.

The Republicans are getting record donations. They better spend some on lawyers and poll watchers.

We shall see.

[Flash]

It's a good thing it's not 2014. I don't think the Democrats have to worry about what people thought 8 years ago in the upcoming election.

Today unemployment is 3.9% and there are 10.4 million job openings--that hardly seems an issue.