Producer Prices Up 9.7% Over the Past Year

The U.S. Bureau of Labor Statistics reports that the producer-price index rose 0.2% in December from November, the slowest pace since November 2020, which could indicate easing inflationary pressures in the supply chain. Nonetheless, prices remain much higher than a year ago, climbing 9.7% on a 12-month basis, down just slightly from November’s record 9.8% jump.

Meanwhile, the consumer price index (CPI) rose 7% in December from a year earlier — the fastest pace since June 1982. 1/13/2022