Wholesale Prices Soar in 2021

Wholesale Prices Soar in 2021

By: Tomas Ronolski - AllPennyStocks.com News

Friday, January 14, 2022

Inflation has moved beyond just consumer prices.

Wholesale prices hit their highest figure on record in December. The US producer price index surged 9.7 percent for the year over year period. The print measures the prices suppliers charge businesses for goods and services. 

However, for the month of December the number was below expectations at 0.2 percent and represents the lowest increase in 13 months. Producer prices generally represent the economy’s supply conditions.

On a monthly basis, energy prices declined 3.3 percent and food prices also slightly decreased. Core prices, which exclude volatile energy and food, rose 0.5 percent in December, and 8.3 percent for the 12-month period.

The producer price index follows the consumer price index, which at over 6 percent year over year, represents the fastest pace since 1982.

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