THE BIDEN EFFECT: US Producer Price Inflation Soars to 7.8% Annually in July – Highest Jump On Record

U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.
The “experts” said it was going to come down from 7.2% this month. Boy were they wrong.

Via Zero Hedge — After soaring to a record high 7.3% YoY in June, PPI was expected (like Core CPI) to moderate modestly in July to ‘just’ +7.2% YoY. They were wildly wrong as July’s PPI soared to a new record +7.8% YoY (up 1.0% MoM).

This is a frightening trend–

JUST IN – U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.

— Disclose.tv 🚨 (@disclosetv) August 12, 2021

Gas prices are up 41% in the last year!
Via FBN.

⚠️BREAKING:

*U.S. PRODUCER PRICE INFLATION JUMPS 7.8% IN JULY, LARGEST Y/Y INCREASE ON RECORD pic.twitter.com/E6rhvSy9az

— Investing.com (@Investingcom) August 12, 2021