BREAKING: U.S. Producer Price Inflation Jumps 9.6% Year Over Year in November – Highest Increase on Record

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The beat goes on. The plan to destroy America in overdrive.

BREAKING: U.S. Producer Price Inflation Jumps 9.6% Year Over Year in November - Highest Increase on Record | The Gateway Pundit | by Joe Hoft

Another Biden record – Inflation based on the producer price index reaches the highest increase ever recorded since 2010 when the data was first calculated.

www.thegatewaypundit.com

By Joe Hoft
Published December 14, 2021 at 8:45am

Another Biden record – Inflation based on the producer price index reaches the highest increase ever recorded since 2010 when the data was first calculated.
This morning the producer price index results were reported and they literally could not be worse.


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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.

The destruction of America, brought to you by the same people who stole the 2020 Election.​

 

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The Biden Effect: Saudi Arabia Projects Fastest Economic Growth in Decade thanks to Oil Prices - Russia Predicts Oil Production to be Near Post-Soviet Highs | The Gateway Pundit | by Jim Hoft

Thanks to Joe Biden and his anti-American policies Saudi Arabia and Russia are expecting record oil production in 2022.

www.thegatewaypundit.com

 

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Joey Poops Biden is rapidly turning our nation into a shithole!

"If We Were Using the same CPI We Used in 1982, [Inflation] Would Be Closer to 15%... The Worst Year ... in US History" - Economist Peter Schiff | The Gateway Pundit | by Joe Hoft

Tucker Carlson had economist Peter Schiff on his show to discuss the current state of Biden’s economy.

www.thegatewaypundit.com

“If We Were Using the same CPI We Used in 1982, [Inflation] Would Be Closer to 15%… The Worst Year … in US History” – Economist Peter Schiff​

By Joe Hoft
Published December 15, 2021 at 1:00pm

Tucker Carlson had economist Peter Schiff on his show to discuss the current state of Biden’s economy.​

Trending Politics reported:

Tucker leads the conversation by noting that CPI rose by nearly 7% year over year in November, the highest inflation in decades. While that’s bad enough, Schiff responded by noting that CPI probably isn’t even the right measure of inflation, with the true inflation number being far, far higher. In his words:
In fact, one of the ways the Fed has been able to justify creating more inflation is because they claimed we didn’t have enough of it. But the only reason we didn’t have enough of it is because they were relying on their own highly rigged CPI.
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When they compare our inflation rates to the inflation of the 1970s, we’re not using the same CPI that we used then.
If we were using the same CPI we used in 1982, the rate would be closer to 15%, which means it’s the worst year in inflation in US history.
That’s bad news, but it gets worse. As Tucker points out, no one seems to be in trouble for this “crime,” other than the approval hit President Brandon is taking. Schiff responds by noting why:
This is the only way the government can finance all the spending. You have the Democrats now promising all sorts of stuff for nothing. We’re going to get free preschool. Everybody is going to get paid family medical leave. And no one’s going to have to pay for it. Nobody’s taxes are going up. We’re paying for it through inflation because the money to pay for all this government is being printed into existence and then it’s spent into circulation. And as it’s spent into circulation, it’s driving up prices.