US producer prices fell in December for the third consecutive month, bringing a closely watched gauge of inflation to a rate more in line with pre-pandemic times.
Wholesale inflation as measured by the Producer Price Index rose 1% annually in December, up slightly from November’s revised 0.8% reading, according to data released Friday by the Bureau of Labor Statistics.
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PPI is a closely watched inflation gauge since it captures average price shifts before they reach consumers and serves as a potential signal for the prices consumers ultimately end up paying.
Well that’s okay, because if you want to pay an annual fee, you can get wholesale food at wholesale quantities near wholesale prices.
You do want a 20-gallon can of beans, don’t you? And who needs fresh produce anyway?
WPI isn’t meant for people who want to buy a 20-gallon can of beans today.
It’s meant for people who want a rough idea of how much a 16 oz can of chili will cost in a couple of months.