BIDENOMICS! U.S. Producer Price Inflation Jumps 9.6% Year Over Year in Nov. – Wholesale Inflation Hits 26.5%

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The progressive onslaught of illegal aliens invading the U.S. Southern border and other policies causing massive inflation is unsustainable and must be a concern for all Americans.

Instead of the White House coming out assuring America things are under control, VP Kamala Harris is out promoting The Great Reset, telling globalists it is time for ‘Restructuring’ the U.S. Economic System to Ensure “Equitable Distribution”.

In the latest US Bureau of Labor Statistics Report, U.S. producer price inflation jumped up to 9.6% year over year in November, much higher than expected and the highest increase on record.

The final demand goods component of the Producer Price Index rose 1.2 percent compared with October. Compared with 12-months earlier, prices are up 14.9 percent. Prices on the services side rose 0.7 percent during the month for a 7.1 percent 12-month increase.

The US Bureau of Labor Statistics reported this morning:

The Producer Price Index for final demand increased 0.8 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.6 percent in each of the 3 prior months. (See table A.) On an unadjusted basis, the final demand index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010.

In November, the index for final demand services rose 0.7 percent and prices for final demand goods increased 1.2 percent.

The index for final demand less foods, energy, and trade services moved up 0.7 percent in November, the largest rise since climbing 0.8 percent in July. For the 12 months ended in November, prices for final demand less foods, energy, and trade services increased 6.9 percent, the largest advance since 12-month data were first calculated in August 2014.

According to Breitbart – Supply Chain and Wholesale Inflation Hits 26.5%, Hottest Since 1974

It’s the year-over-year number that is really eye-catching. Prices for intermediate processed goods are up 26.5 percent, the largest 12-month increase since December 1974, when the index rose 28.9 percent.

This inflation is widespread. Prices for materials and components for manufacturing are up 42 percent year over year. Materials for durable goods manufacturing saw their prices jump 59.8 percent. Prices on components for durable goods rose 9.7 percent. Nondurable materials were up 36.2 percent and components 19.5 percent.

What makes all this data, and huge increases in costs which will be passed on the shoppers through higher prices, it is being done on purpose.

The attack on America is underway, and the battle is going in the wrong direction for those who love liberty.

Written By: Eric Thompson, host of the Eric Thompson Show. Follow me on his website ETTALKSHOWMAGABOOKTwellit & Twitter.    

This story syndicated with permission from Eric Thompson – Trending Politics

Notice: This article may contain commentary that reflects the author's opinion.

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