{"id":637447,"date":"2021-08-12T14:23:06","date_gmt":"2021-08-12T18:23:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=637447"},"modified":"2021-08-12T14:23:08","modified_gmt":"2021-08-12T18:23:08","slug":"inflation-for-businesses-reaches-7-8-the-highest-level-ever-recorded","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-for-businesses-reaches-7-8-the-highest-level-ever-recorded\/","title":{"rendered":"Inflation For Businesses Reaches 7.8%, The Highest Level Ever Recorded"},"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\">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%2Finflation-for-businesses-reaches-7-8-the-highest-level-ever-recorded%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=637447&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1233599336-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Inflation for businesses reached a year-over-year rate of 7.8% in July \u2014 the highest level ever recorded.<\/span><\/p>\n<p><span>On Thursday morning, the <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/ppi.nr0.htm\"><span>Bureau of Labor Statistics<\/span><\/a><span> showed that the Producer Price Index \u2014 which tracks changes in input prices for businesses and other domestic producers \u2014 increased by 1.0% during the month of July alone.&nbsp;<\/span><\/p>\n<p><span>According to the agency:<\/span><\/p>\n<blockquote readability=\"17\">\n<p><i><span>Nearly three-fourths of the July increase in the final demand index can be traced to a 1.1-percent advance in prices for final demand services. The index for final demand goods rose 0.6 percent.&nbsp;<\/span><\/i><\/p>\n<p><i><span>The index for final demand services rose 1.1 percent in July, the largest&nbsp; one-month increase since data were first calculated in December 2009. Nearly half of the broad-based advance in July is attributable to margins for final demand trade services, which jumped 1.7 percent\u2026 Prices for final demand services less trade, transportation, and warehousing and for final demand transportation and warehousing services also moved higher, 0.6 percent and 2.7 percent, respectively.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>The rise in transportation expenses matches the newest data for the Bureau of Labor Statistics\u2019 Consumer Price Index, which was <\/span><a href=\"https:\/\/www.dailywire.com\/news\/july-inflation-remains-at-last-months-record-high-levels\"><span>released<\/span><\/a><span> on Wednesday. Over the past year, prices for used vehicles have increased by 41.7%; meanwhile, gasoline and fuel oil saw respective price hikes of 41.8% and 39.1%.<\/span><\/p>\n<p><span>The year-over-year 7.8% rate marks the eighth consecutive month of increase for the Producer Price Index. In December, January, February, March, April, May, and June, the Producer Price Index reached annual rates of 0.8%, 1.6%, 3.0%, 4.1%, 6.2%, 6.6%, and 7.3%, respectively.<\/span><\/p>\n<p><span>In June, Bill Adams \u2014 senior economist at PNC Financial Services Group \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/american-businesses-see-largest-producer-price-surge-since-tracking-began\"><span>commented<\/span><\/a><span> that \u201cPPI matters much more than it usually does because inflation matters much more than it has for years.\u201d<\/span><\/p>\n<p><span>\u201cWe haven\u2019t had an inflationary shock like this in a decade,\u201d he explained. \u201cWe know we\u2019re in the middle of an inflationary shock but what we still don\u2019t know is how bad it is. That\u2019s a big part of what we\u2019re looking to these inflation data for.\u201d<\/span><\/p>\n<p><span>The main inflation index used by the Federal Reserve \u2014 which has not yet revised its near-zero interest rate target or scaled back its $120 billion monthly asset purchases \u2014 to make monetary policy decisions recently reached its highest level since the early 1990s. According to the Bureau of Economic Analysis, the Personal Consumption Expenditures Price Index has risen 4% between June 2020 and June 2021.&nbsp;<\/span><\/p>\n<p><i><span>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 <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation for businesses reached a year-over-year rate of 7.8% in July \u2014 the highest level ever recorded.On Thursday morning, the Bureau of Labor Statistics showed that the Producer Price Index &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-637447","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\/637447","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=637447"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/637447\/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=637447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=637447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=637447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}