Wholesale Prices Rise A Rapid Pace In November

New York, New York – Wholesale prices rose sharply in November, indicating that inflation in the United States will likely remain high well into 2022.

The producer price index increased by 0.8 percent last month, according to the government, easily exceeding Wall Street expectations.

The Wall Street Journal polled economists, who predicted a 0.5 percent increase.

The increase in wholesale prices over the last year increased to 9.6 percent from 8.8 percent, the largest increase since a major change in the index in 2009.

Although wholesale inflation is likely to be rising at the fastest rate in 40 years, the index was recalculated in 2014 using a different methodology.

Inflation dropped initially during the first QTR of the pandemic to negative 1.352% in April 2020 before making its rapid countinous rise to 9.6%