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Bidenomics: U.S. Producer Prices Up 9.6% Year-On-Year in November

Bidenomics: precios para productores americanos subieron 9,6 % interanual en noviembre

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Prices paid by producers for raw materials and other supplies rose 9.6 % in the year-on-year rate last November, the Bureau of Labor Statistics reported on Tuesday.

The Producer Price Index (PPI) experienced the largest year-over-year increase in November since this data began to be calculated in 2010, the Biden administration said.

Prices rose 0.8% from the previous month, two tenths above the 0.6% recorded in each of the three preceding months.

Excluding food, energy and business services —the most volatile items— year-on-year inflation stood at 7.7%, while month-on-month (i.e. October to November) inflation was 0.7%.

Last week it was known that the Consumer Price Index (CPI, what the final consumer pays) rose in November to 6.8% —six tenths above that of October—, the highest record of consumer prices in this country in almost 40 years.

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