Key Inflation Metric Makes Biggest Jump Since June

The October read on producer inflation showed some of the highest numbers in months on key indicators of price increases that have come as a result of the Biden administration and congressional Democrats' tax-and-spend agenda.

Month-over-month, headline PPI inflation advanced 0.2 percent in October — the same as in September — and prices upstream from consumers increased a full eight percent in the 12 months ending in October.  

The core PPI number that excludes more volatile foods, energy, and trade services also saw prices increase 0.2 percent for an annual advance of 5.4 percent.