{"id":743973,"date":"2021-09-12T09:05:53","date_gmt":"2021-09-12T13:05:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=743973"},"modified":"2021-09-12T09:05:55","modified_gmt":"2021-09-12T13:05:55","slug":"inflation-for-businesses-hits-highest-rate-since-2010","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-for-businesses-hits-highest-rate-since-2010\/","title":{"rendered":"Inflation For Businesses Hits Highest Rate Since 2010"},"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\">16<\/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-hits-highest-rate-since-2010%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=743973&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\/08\/GettyImages-1317370474-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 8.3% \u2014 the metric\u2019s highest level since at least 2010.<\/span><\/p>\n<p><span>The <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/ppi.pdf\"><span>Bureau of Labor Statistics<\/span><\/a><span> announced that the Producer Price Index \u2014 which monitors changes in input prices for businesses and other domestic producers \u2014 rose by 0.7% in August, slightly <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/09\/10\/august-wholesale-prices-rise-8point3percent-on-an-annual-basis-biggest-advance-on-record.html\"><span>beating<\/span><\/a><span> the 0.6% rate predicted by economists.<\/span><\/p>\n<p><span>The Producer Price Index is now increasing at an 8.3% year-over-year pace \u2014 the fastest since November 2010. <\/span><a href=\"https:\/\/www.foxbusiness.com\/economy\/producer-price-index-august-2021\"><span>Fox Business<\/span><\/a><span> reports that the rate has now risen for the fifth consecutive month.<\/span><\/p>\n<p><span>The Bureau of Labor Statistics explained that a large portion of the inflation for final demand goods was driven by higher meat prices:<\/span><\/p>\n<blockquote readability=\"15\">\n<p><i><span>About a quarter of the August advance in prices for final demand goods can be attributed to an 8.5-percent rise in the index for meats. Prices for residential natural gas, industrial chemicals, processed young chickens, motor vehicles, and steel mill products also moved higher. In contrast, the index for iron and steel scrap decreased 3.7 percent. Prices for diesel fuel and for natural, processed, and imitation cheese also moved lower.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Rising inflation in the United States \u2014 which signals diminished purchasing power for businesses and consumers alike \u2014 is concerning economists and lawmakers.<\/span><\/p>\n<p><span>Rep. Kevin Brady (R-TX) \u2014 the ranking member of the House Ways and Means Committee, which is responsible for determining taxes and other fiscal policy measures \u2014 told <\/span><a href=\"https:\/\/www.dailywire.com\/news\/the-bidenomics-issues-every-american-should-know-about-kevin-brady-on-unemployment-taxes-and-inflation\"><span>The Daily Wire<\/span><\/a><span> in an August interview that inflation under President Joe Biden is the \u201cmirror image\u201d of trends under President Donald Trump.<\/span><\/p>\n<p><span>\u201cWages grew twice as fast as prices,\u201d remarked Brady. \u201cEvery family\u2019s purchasing power was growing under President Trump. As a matter of fact, in 2019, household income grew more in just one year than in all eight years of the Obama-Biden administration.\u201d<\/span><\/p>\n<p><span>In contrast, inflation has been <\/span><a href=\"https:\/\/www.dailywire.com\/news\/thanks-to-inflation-american-wages-drop-by-nearly-2\"><span>outpacing<\/span><\/a><span> real wage growth for most of 2021.<\/span><\/p>\n<p><span>Brady argued that the Federal Reserve and the White House share responsibility for rising inflation levels, as both are \u201cin denial about the seriousness and the length\u201d of rising price levels. \u201cBoth the Fed and the White House have been very slow to recognize the role they\u2019re playing in driving these higher prices.\u201d<\/span><\/p>\n<p><span>\u201cIf we continue the emergency spending and expanding government checks as the President has proposed \u2014 and the fact that workers are not coming back to the workforce \u2014 what you\u2019re going to see is the \u2018demand inflation\u2019 that we\u2019re seeing today will transform into a \u2018cost inflation\u2019 \u2014 a \u2018push inflation\u2019 for the longer term.\u201d<\/span><\/p>\n<p><span>Indeed, Biden has been consistently brushing off concerns about higher inflation.&nbsp;<\/span><\/p>\n<p><span>\u201cWe also know that as our economy has come roaring back, we\u2019ve seen some price increases,\u201d he said in a recent speech. \u201cSome folks have raised worries that this could be a sign of persistent inflation. But that\u2019s not our view. Our experts believe and the data shows that most of the price increases we\u2019ve seen are \u2014 were expected and expected to be temporary.\u201d<\/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 8.3% \u2014 the metric\u2019s highest level since at least 2010.The Bureau of Labor Statistics announced that the Producer Price Index \u2014 which &#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-743973","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\/743973","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=743973"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/743973\/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=743973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=743973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=743973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}