{"id":1117516,"date":"2021-12-14T10:29:24","date_gmt":"2021-12-14T15:29:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1117516"},"modified":"2021-12-14T10:29:26","modified_gmt":"2021-12-14T15:29:26","slug":"wholesale-prices-rise-9-6-in-year-over-year-average-record-setting-increase","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wholesale-prices-rise-9-6-in-year-over-year-average-record-setting-increase\/","title":{"rendered":"Wholesale Prices Rise 9.6% In Year-Over-Year Average, Record Setting Increase"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwholesale-prices-rise-9-6-in-year-over-year-average-record-setting-increase%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1117516&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The United States Department of Labor announced more troubling news for the Biden administration as wholesale prices of consumer goods rose 9.6% year-over-year from November 2020-November 2021, setting a record since the department started tracking these figures in 2010.<\/p>\n<p>CNBC <a href=\"https:\/\/www.cnbc.com\/2021\/12\/14\/wholesale-prices-measure-rises-9point6percent-in-november-from-a-year-ago-the-fastest-pace-on-record.html\">reported<\/a> that \u201cthe&nbsp;<a href=\"https:\/\/www.bls.gov\/news.release\/ppi.nr0.htm\" target=\"_blank\" rel=\"noopener\">producer price index<\/a> for final demand products increased 9.6% over the previous 12 months after rising another 0.8% in November.\u201d<\/p>\n<p>The business new outlet also noted that economists had predicted an annual gain of 9.2%.<\/p>\n<p>The news comes as several economists have called on the Federal Reserve to hike interest rates to help combat inflation across the economy. On Monday, The Daily Wire <a href=\"https:\/\/www.dailywire.com\/news\/as-inflation-continues-morgan-stanley-ceo-says-federal-reserve-needs-to-raise-interest-rates\">reported<\/a> that Morgan Stanley CEO James Gorman advised the Federal Reserve to hike interest rates:<\/p>\n<p><em>The Bureau of Labor Statistics announced last week that inflation rose at a 6.8% pace last month \u2014 the largest year-over-year increase since June 1982. Households are grappling with significantly higher price levels in staples such as gasoline, food, vehicles, electricity, and apparel.<\/em><\/p>\n<p><em>As the Federal Reserve begins deliberations on potentially tapering monetary stimulus, Gorman believes that a rate hike would be prudent.<\/em><\/p>\n<p><em>\u201cWe are heading toward a rising interest rate environment,\u201d Gorman said during an interview with CNBC. \u201cI felt the Federal Reserve would be better off storing away some of the rate increases, so when the inevitable downturn comes, you\u2019ve got some ammunition to fight with.\u201d<\/em><\/p>\n<p><em>In order to establish a normal interest rate regime, Gorman said that the central bank will need to carry out 10 rate hikes. \u201cIf I were the Fed, I would start moving earlier rather than later. Store away some ammunition and accept the reality,\u201d he continued.<\/em><\/p>\n<p>As noted by Josh Jordan, \u201cThe PPI \u2018core\u2019 number also beat expectations, up 7.7% year over year compared to a 7.2% expectation. Those costs will be passed to consumers.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">The November PPI (producer price index) rose 9.6% year\/year \u2013 the highest level of inflation on record and higher than the expectations.<\/p>\n<p>The PPI \u201ccore\u201d number also beat expectations, up 7.7% year over year compared to a 7.2% expectation.<\/p>\n<p>Those costs will be passed to consumers.<\/p>\n<p>\u2014 Josh Jordan (@NumbersMuncher) <a href=\"https:\/\/twitter.com\/NumbersMuncher\/status\/1470749180092166149?ref_src=twsrc%5Etfw\">December 14, 2021<\/a><\/p>\n<p>Beyond harming the American people, the inflationary news will surely continue to harm Biden\u2019s popularity.<\/p>\n<p>Poll after poll has shown that the American people do not trust President Joe Biden to handle the economy. On Sunday, an ABC News\/Ispsos poll <a href=\"https:\/\/abcnews.go.com\/Politics\/president-bidens-job-approval-sinking-inflation-crime-covid\/story?id=81701113&amp;cid=social_twitter_abcnp\">revealed<\/a> that the majority of Americans do not approve of how Biden\u2019s combatting inflation:<\/p>\n<p><em>More than two-thirds of Americans (69%) disapprove of how Biden is handling inflation (only 28% approve) while more than half (57%) disapprove of his handling of the economic recovery. Partisan splits for inflation show expected negativity in Republican views (94% disapproving), but the survey al<\/em><em>so reveals weaknesses from Biden\u2019s own party with only a slim majority of Democrats (54%) approving.<\/em><\/p>\n<p>Last week, a Wall Street Journal poll also <a href=\"https:\/\/www.dailywire.com\/news\/nationwide-poll-voters-miss-trumps-policies-think-economy-is-heading-in-wrong-direction\">found<\/a> that 61% of Americans believe that the economy is heading in the wrong direction and that many Americans miss President Donald Trump\u2019s policies:<\/p>\n<p><em>The poll was sponsored by The Wall Street Journal, ALG Research, and the firm Fabarazio Lee, and conducted between November 16 and November 22.<\/em><\/p>\n<p><em>Voters were asked, \u201cRegardless of how you may feel personally about each man, would you rather continue pursuing Joe Biden\u2019s policies and proposals or return to Donald Trump\u2019s policies and proposals?\u201d According to the survey, 46% said they somewhat or strongly wanted to continue Biden\u2019s policies while 48% said that they somewhat or strongly wanted to return to Trump\u2019s policies.<\/em><\/p>\n<p><em>When asked, \u201cSpecifically, would you say that the economy is going in the right direction or headed in the wrong direction?\u201d a whopping 61% of voters said it was going in the \u201cwrong direction.\u201d<\/em><\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a&nbsp;<a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States Department of Labor announced more troubling news for the Biden administration as wholesale prices of consumer goods rose 9.6% year-over-year from November 2020-November 2021, setting a record since the department started tracking these figures in 2010.CNBC reported that \u201cthe\u00a0producer price index for final demand products increased 9.6% over the previous 12 months after rising another 0.8% in November.\u201dThe business new outlet also noted that economists had predicted an annual gain of 9.2%.The news comes as several economists have called on the Federal Reserve to hike interest rates to help combat inflation across the economy. On Monday, The Daily Wire reported that Morgan Stanley CEO James Gorman advised the Federal Reserve to hike interest rates:The Bureau of Labor Statistics announced last week that inflation rose at a 6.8% pace last month \u2014 the largest year-over-year increase since June 1982. Households are grappling with significantly higher price levels in staples such as gasoline, food, vehicles, electricity, and apparel.As the Federal Reserve begins deliberations on potentially tapering monetary stimulus, Gorman believes that a rate hike would be prudent.\u201cWe are heading toward a rising interest rate environment,\u201d Gorman said during an interview with CNBC. \u201cI felt the Federal Reserve would be better off storing away some of the rate increases, so when the inevitable downturn comes, you\u2019ve got some ammunition to fight with.\u201dIn order to establish a normal interest rate regime, Gorman said that the central bank will need to carry out 10 rate hikes. \u201cIf I were the Fed, I would start moving earlier rather than later. Store away some ammunition and accept the reality,\u201d he continued.As noted by Josh Jordan, \u201cThe PPI \u2018core\u2019 number also beat expectations, up 7.7% year over year compared to a 7.2% expectation. Those costs will be passed to consumers.\u201dThe November PPI (producer price index) rose 9.6% year\/year \u2013 the highest level of inflation on record and higher than the expectations.The PPI \u201ccore\u201d number also beat expectations, up 7.7% year over year compared to a 7.2% expectation.Those costs will be passed to consumers.\u2014 Josh Jordan (@NumbersMuncher) December 14, 2021Beyond harming the American people, the inflationary news will surely continue to harm Biden\u2019s popularity.Poll after poll has shown that the American people do not trust President Joe Biden to handle the economy. On Sunday, an ABC News\/Ispsos poll revealed that the majority of Americans do not approve of how Biden\u2019s combatting inflation:More than two-thirds of Americans (69%) disapprove of how Biden is handling inflation (only 28% approve) while more than half (57%) disapprove of his handling of the economic recovery. Partisan splits for inflation show expected negativity in Republican views (94% disapproving), but the survey also reveals weaknesses from Biden\u2019s own party with only a slim majority of Democrats (54%) approving.Last week, a Wall Street Journal poll also found that 61% of Americans believe that the economy is heading in the wrong direction and that many Americans miss President Donald Trump\u2019s policies:The poll was sponsored by The Wall Street Journal, ALG Research, and the firm Fabarazio Lee, and conducted between November 16 and November 22.Voters were asked, \u201cRegardless of how you may feel personally about each man, would you rather continue pursuing Joe Biden\u2019s policies and proposals or return to Donald Trump\u2019s policies and proposals?\u201d According to the survey, 46% said they somewhat or strongly wanted to continue Biden\u2019s policies while 48% said that they somewhat or strongly wanted to return to Trump\u2019s policies.When asked, \u201cSpecifically, would you say that the economy is going in the right direction or headed in the wrong direction?\u201d a whopping 61% of voters said it was going in the \u201cwrong direction.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0member.<\/p>\n","protected":false},"author":326,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1117516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1117516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1117516"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1117516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1117516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1117516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1117516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}