U.S. Inflation Surges 10 Percent, but Latest Report Doesn’t Include gas – Daily Access News
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U.S. Inflation Surges 10 Percent, but Latest Report Doesn’t Include gas

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Last month, wholesale inflation in the United States rose by 9.7% compared to a year ago, indicating that pricing pressures remain high at all economic levels. However, the survey does not track price changes after February 15, so it does not account for the spike in oil and gas costs after Russia invaded Ukraine late last month. Despite this, the tensions over Ukraine have only increased commodities prices.

Wholesale prices determine what companies pay for raw materials and other necessary supplies, such as packaging. Higher wholesale prices result in higher customer prices, leading to increased inflation. The majority of the increase in wholesale costs was due to fuel and food prices. The price of gas increased by over 15%, while the cost of food increased by 1.9%

Beyond predictions made by Economists

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