Former Assistant Treasury Secretary Monica Crowley discusses the strain inflation is having on the middle and lower class on ‘The Bottom Line.’
Inflation at the wholesale level rose much more than expected in January, underscoring the challenge of taming price pressures within the economy.
The Labor Department said Friday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, jumped 0.3% in January from the previous month. On an annual basis, prices remain up 0.9%.
Those figures are both higher than the 0.1% monthly gain and the 0.6% annual figure predicted by Refinitiv economists.
SURGING AUTO INSURANCE PRICES ARE FUELING HIGHER INFLATION
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