The Bureau of Labor and Statistics (BLS) released the August review of producer prices for last month. August rose 0.7% with cumulative results now showing an 8.3% increase in prices; the largest year-over-year jump in prices for final demand products in the history of tracking. The prior record was July with 7.8%. Inflation is skyrocketing for consumer goods at all levels of production: Origination (commodity/raw material), Intermediate (Mfr/Wholesale) and Final products (retail).
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