{"id":989554,"date":"2021-11-09T12:29:29","date_gmt":"2021-11-09T17:29:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=989554"},"modified":"2021-11-09T12:29:32","modified_gmt":"2021-11-09T17:29:32","slug":"production-prices-reach-record-high-labor-dept-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/production-prices-reach-record-high-labor-dept-says\/","title":{"rendered":"Production Prices Reach Record High, Labor Dept Says"},"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%2Fproduction-prices-reach-record-high-labor-dept-says%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=989554&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 readability=\"28.043010752688\">\n\t\t\t<span class=\"article-category\"><a class href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a><\/span><\/p>\n<p class=\"article-excerpt\">Producer Price Index up 8.6 percent over last year<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\">\n\t\t<img decoding=\"async\" loading=\"lazy\" width=\"736\" height=\"514\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/rsz_gettyimages-1180693596-736x514-1.jpg\" class=\"w-full lazyload blur-up wp-post-image\" alt srcset=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" sizes=\"auto, (max-width: 736px) 100vw, 736px\" data-srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/fb_image-2185.jpeg 736w, https:\/\/freebeacon.com\/wp-content\/uploads\/2021\/03\/rsz_gettyimages-1180693596-300x210.jpg 300w, https:\/\/freebeacon.com\/wp-content\/uploads\/2021\/03\/rsz_gettyimages-1180693596-703x491.jpg 703w\" data-sizes=\"auto\" \/><figcaption class=\"absolute text-white p-4 w-full text-right text-xs bottom-0 bg-black opacity-75\">\n\t\t\t\tSteaks \/ Getty Images\t\t\t<\/figcaption><\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/cole-carnick\/\" title=\"Posts by Cole Carnick\" class=\"author url fn text-red-700\" rel=\"author\">Cole Carnick<\/a> \u2022 November 9, 2021 12:15 pm<\/span><\/p><\/div>\n<div readability=\"63.02894555479\">\n<p>Producer prices have surged 8.6 percent over the last year, matching record highs, the Labor Department reported Tuesday.<\/p>\n<p>The Producer Price Index, which tracks input costs for producers, rose 0.6 percent in October, outpacing September&#8217;s 0.5 percent increase. The index&#8217;s year-over-year rise matches September&#8217;s 8.6 percent gain, the highest annual rate in more than a decade.<\/p>\n<p>A spike in energy costs drove October&#8217;s elevated prices. While final demand for services rose 0.2 percent, final demand for goods jumped 1.2 percent\u2014three-quarters of which can be attributed to a surge in energy costs. Consumer prices for energy commodities have increased 42 percent over the last year, the Labor Department <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" target=\"_blank\" rel=\"noopener\">reported<\/a> in October, and gasoline prices have <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=pet&amp;s=emm_epm0_pte_nus_dpg&amp;f=m\" target=\"_blank\" rel=\"noopener\">skyrocketed<\/a> 50 percent since last year.<\/p>\n<p>The report comes as the Biden administration <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-admin-considers-blocking-pipeline-amid-spike-in-energy-costs\/\" target=\"_blank\" rel=\"noopener\">considers<\/a> shutting down the Great Lakes&#8217; Line 5 pipeline, which transports natural gas and propane between the United States and Canada. President Joe Biden&#8217;s Energy Department, meanwhile, <a href=\"https:\/\/freebeacon.com\/latest-news\/biden-admin-expect-winter-heating-costs-to-spike\/\" target=\"_blank\" rel=\"noopener\">expects<\/a> heating costs to jump this winter by as much as 54 percent compared with last year.<\/p>\n<p>Biden faced criticism for the climb in energy prices after his administration blocked construction of the Keystone XL pipeline and suspended permits for new gas and oil drilling on federal lands. Sixty-two percent of voters blame the Biden administration for the inflation surge, <a href=\"https:\/\/freebeacon.com\/biden-administration\/poll-62-percent-of-registered-voters-blame-biden-for-inflation\/\" target=\"_blank\" rel=\"noopener\">according<\/a> to an October Morning Consult\/<em>Politico<\/em> poll.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Latest News Producer Price Index up 8.6 percent over last year  Steaks \/ Getty Images  Cole Carnick \u2022 November 9, 2021 12:15 pm &#8230;<\/p>\n","protected":false},"author":177,"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-989554","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\/989554","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\/177"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=989554"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/989554\/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=989554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=989554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=989554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}