{"id":1997558,"date":"2023-08-11T08:46:04","date_gmt":"2023-08-11T12:46:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-to-0-8-in-july-in-producer-price-index\/"},"modified":"2023-08-11T08:48:27","modified_gmt":"2023-08-11T12:48:27","slug":"inflation-rises-to-0-8-in-july-in-producer-price-index","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-to-0-8-in-july-in-producer-price-index\/","title":{"rendered":"July&#8217;s producer price index sees inflation climb to 0.8%."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/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%2Finflation-rises-to-0-8-in-july-in-producer-price-index%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=1997558&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--><h2>Inflation Ticks Up, Defying \u200dExpectations<\/h2>\n<p>In a surprising turn of events, inflation, as measured by the\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-u-s-producer-price-index-skyrockets-registers-twice-as-high-as-expected-for-april\/\" title=\"BREAKING: U.S. Producer Price Index Skyrockets, Registers Twice As High As Expected For April\">producer price index<\/a>, has risen to 0.8% for the year ending in July. This \u2062comes after \u2064a period of stagnation, where inflation remained nearly flat. The Bureau\u200d of Economic Analysis released these new numbers on\u200b Friday, catching most\u2062 economists\u2062 off guard\u2062 as they \u200dhad anticipated a slight increase\u2062 following June&#8217;s ultra-low\u2063 wholesale\u2063 inflation \u200drate of\u200c 0.2%.<\/p>\n<p>This increase \u200dserves as a clear indication that\u2063 some inflationary \u2063pressures in the\u2062 country are \u2063still holding up against the Federal Reserve&#8217;s efforts to \u2062slow down spending and\u2062 boost the economy\u2063 by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-delivers-bad-news-about-expectations-for-inflation-raising-interest-rates-report\/\" title=\"Federal Reserve Delivers Bad News About Expectations For Inflation, Raising Interest Rates: Report\">raising interest rates<\/a>. On a month-to-month basis, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/used-car-prices-unexpectedly-surge-higher\/\" title=\"Used Car Prices Unexpectedly Surge Higher\">wholesale price index<\/a> also saw a modest increase of 0.3%.<\/p>\n<h3>Setback \u2063for Biden and the Fed<\/h3>\n<p>Adding to\u2064 the concerns, the \u2064consumer price \u2063index\u200b data for July revealed a\u200d rise in overall annual inflation to a rate of 3.2% for the year ending in July. This marks \u2063the first increase after a full year of declines. High inflation has been detrimental to households over the past two years and has negatively\u2063 impacted \u2062support \u2062for President Joe Biden&#8217;s economic agenda. \u200cPolls consistently show low approval ratings for Biden&#8217;s handling of the economy, with Republicans using the rising prices as ammunition to criticize both Biden\u2064 and the Democrats.\u200b They attribute the inflation to large\u200b spending\u2062 bills, such \u2064as Biden&#8217;s pandemic relief legislation.<\/p>\n<p>However, \u2063despite these challenges, Biden and\u2064 the White House\u200c have been highlighting positive aspects of the economy, such as a strong labor market and positive \u200cgross domestic product growth, \u2064as evidence of the success of &#8220;Bidenomics.&#8221;\u2064 The overall trendline for inflation in\u200c the\u2064 country has been cooling down\u2063 due to the Federal Reserve&#8217;s efforts to tighten the economy over the past \u200c17 months. The Fed has raised interest rates significantly since last March, \u2064with the current target\u2064 rate ranging from 5.25% to 5.50%.<\/p>\n<p>Looking ahead, many economists \u200dbelieve that\u200b the quarter-of<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-to-0-8-in-july-in-producer-price-index\/\" title=\"July's producer price index sees inflation climb to 0.8%.\">-a-percentage-point rate \u200dhike implemented<\/a> \u2063last month will be the last\u2062 for this year. With signs of a slowing labor market and declining inflation, \u200dthere is growing \u200doptimism \u2064that\u2062 the U.S. may avoid a recession, \u200ceven in the face of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/another-inflation-metric-likely-heading-even-higher\/\" title=\"Another Inflation Metric Likely Heading Even Higher\">multiple rate hikes<\/a> by the\u200c central bank. This\u200b scenario, known as a &#8220;soft landing,&#8221; would \u200cinvolve the successful taming of inflation\u200c without \u2062a significant economic downturn.\u2064 Just months ago, this outcome seemed highly unlikely, but now it appears to be within reach.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation, measured by the producer price index, rose to 0.8% for the year ending in July, following a month of stagnation. The Bureau of Economic Analysis released the latest figures on Friday. Economists anticipated a rise in wholesale inflation after it reached a minimal 0.2% annually.<\/p>\n","protected":false},"author":1,"featured_media":1997559,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1997558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1997558","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1997558"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1997558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1997559"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1997558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1997558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1997558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}