Prices at the wholesale level surged by a record 9.7% for all of 2021, setting an annual record and providing further evidence that inflation is still present at all levels of the U.S. economy
Summary
- Prices at the wholesale level surged by a record 9.7% for all of 2021, setting an annual record and providing further evidence that inflation is still present at all levels of the U.S. economyWASHINGTON – Prices at the wholesale level surged by a record 9.7% for all of 2021, setting an annual record and providing further evidence that inflation is still present at all levels of the U.S. economy.
- The 12-month increase in wholesale inflation of 9.7% was also lower than a revised 9.8% increase for the 12 months ending in November.
- Core inflation at the wholesale level, which excludes volatile food and energy costs, rose 0.5% on a monthly basis in December, down from a 0.9% gain in November.
- The slowdown in overall inflation at the wholesale level was attributed to a big 3.3% fall in energy prices and a smaller 0.6% dip in food costs.
- Thursday’s report came a day after the government reported that consumer inflation jumped 7% in December from a year earlier, the highest such inflation rate since 1982.