Inflation Explodes to Record-Breaking High in Richmond Fed Survey
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Summary
The prices of products manufactured in the U.S. central Atlantic region rose in January at the fastest annual pace recorded in data that stretches back twenty-five years, according to a survey from the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity found that prices charged by manufacturers for their goods were up 11.27 percent compared with a year ago, the biggest year-over-year surge of inflation on record in survey data going back to 1997.The prices paid for materials and components used to manufacture products also jumped at a record pace, soaring 14.3 percent.
As said here by John Carney