The price of meat has not spiked this high in one month since November, 2003, according to Zero Hedge. It rose almost three percent in April.
According to our leaders, this is good news.
Wholesale prices rose sharply last month, driven up partly by higher prices for meat and other foods.
The producer price index, which measures changes in the prices of goods and services that companies buy, increased 0.6% in April, the Labor Department said Wednesday.
Although inflation remains low, wholesale prices last month were up 2.1% on an annual basis. That’s the biggest 12-month increase in more than two years and close to the Federal Reserve’s 2% annual inflation rate target.
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