Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Wholesale prices rose 10.8% in May, near a record annual pace
- The producer price index rose 0.8% for the month and 10.8% over the past year.
- The monthly gain was in line with estimates and the annual gain was slightly off the record 11.5% hit earlier this year.
- The data is significant in that prices at the wholesale level feed through to consumer prices.
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Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Wholesale prices rise 1% in January, up near-record 9.7% over the past year
- The producer price index, which measures final demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose an unadjusted 9.7%, close to a record in data going back to 2010.
- Manufacturing in the New York region increased modestly in February but was below expectations. The prices received index soared to a record high.
- The increases come amid burgeoning inflation across the economy, with consumer prices running at a 40-year high.
- President Joe Biden “will continue to make progress on his three-part plan of addressing supply chain disruptions; lowering kitchen tables costs with his Build Back Better agenda; and promoting more competition,” the statement said.
Read the original article by clicking here.
