Producer prices surge 8.3% annually, fifth straight record gain

 Producer prices climbed at the fastest annual pace on record for the fifth consecutive month in August as supply-chain disruptions and materials shortages continued to put upward pressure on costs. 

The producer price index for final demand jumped 8.3% year over year, according to the Labor Department. The reading was hotter than the 8.2% increase that analysts surveyed by Refinitiv were expecting and above the 7.8% print recorded in July. The reading was the strongest since recordkeeping began in November 2010.

Producer prices rose 0.7% in August, slowing from the 1% increase the month prior. Economists were anticipating a 0.6% gain.  

https://www.foxbusiness.com/economy/producer-price-index-august-2021