A shopper browses at a Ralphs grocery store in Pasadena, Calif., June 11, 2020. (Mario Anzuoni/Reuters)
The producer price index jumped 9.6 percent in November compared to the same month last year, the highest year-over-year increase since record-keeping began in 2010.
Prices still climbed 6.9 percent when excluding food and energy costs, according to the Bureau of Labor Statistics. The PPI tracks changes in the sale price of domestically produced goods, and is a key gauge of inflation.
Meanwhile, consumer prices rose 6.2 percent in October compared with the previous year, the highest increase in over 30 years.
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Zachary Evans is a news writer for National Review Online. He is a veteran of the Israeli Defense Forces and a trained violist.
