U.S. producer prices surge more than expected in June

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The only thing transitory is their reasoning behind the inflation


Nothing to see here, just supplier shortages


>WASHINGTON, July 14 (Reuters) – U.S. producer prices increased more than expected in June, suggesting inflation could remain high as robust demand fueled by the economy’s recovery from the COVID-19 pandemic continues to strain the supply chain. Federal Reserve Chair Jerome Powell is due to present the semiannual Monetary Policy Report to the U.S. Congress later on Wednesday and financial markets’ attention will be on his view of the latest inflation data. In a report to Congress last week the U.S. central bank said that as the “extraordinary circumstances” of the reopening subside, “supply and demand should become better aligned, and inflation is widely expected to move down.”


What the hell is “producer” supposed to mean?


Worker shortage plus inflation? What the fuck is going on.