Wholesale prices jumped record 9.7% in 2021

Prices at the wholesale level surged by a record 9.7 percent 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 Labor Department reported Thursday that its producer price index, which measures inflation before it reaches consumers, did slow on a monthly basis, rising just 0.2 percent in December compared with November, when prices had shot up 1 percent.