Inflation watch: US producer prices see biggest surge on record
Al Jazeera
In a sign that inflation continues to gallop upward, US producer prices in June posted their largest annual gain in over a decade.
Those who fear inflation could pose a threat to the United States economic recovery got another dose of ammunition on Wednesday with the latest government data showing producer prices kept galloping upward in June. The Producer Price Index (PPI), which measures prices that businesses fetch for the goods and services they sell, increased 1.0 percent in June, after rising 0.8 percent in May, the US Department of Labor said. Over the past 12 months, US producer prices rose 7.3 percent – the steepest advance since annual numbers were first crunched back in November 2010.
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