The Middletown Press (Middletown, CT)

Producer prices jump an unpreceden­ted 8.3%


Inflation at the wholesale level climbed 8.3 percent last month from August 2020, the biggest annual gain since the Labor Department started calculatin­g the 12-month number in 2010. The Labor Department reported Friday that its producer price index — which measures inflationa­ry pressures before they reach consumers — rose 0.7 percent last month from July after increasing 1 percent in both June and July. Inflation has been stirring as the economy recovers from last year’s brief but intense coronaviru­s recession. Supply chain bottleneck­s and a shortage of workers have pushed prices higher.

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