The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, double the Dow Jones estimate.
On a year-over-year basis, the headline index increased 1.6%, the biggest move since September 2023
Two-thirds of the rise in headline PPI came from a 1.2% surge in goods prices, the biggest increase since August 2023, thanks to a 4.4% jump in energy.
Retail sales increased 0.6%, less than expected, while weekly jobless claim filings nudged lower to 209,000.
Thank ya, Joe. You are 100% responsible for this. And, you're proud of doing it!
People who drive cars, eat in restaurants and use toilet paper are reminded regularly that Joe and his string-pullers have been an, as po'd say, EFFINdisaster.
