Second derivative baby!
From Trading Economics (also on blogroll at right):
source: tradingeconomics.com
That 9.6% rate is the highest ever recorded for the index.
And from ZeroHedge:
US Producer Prices Explode To Record High In November (And There's Worse To Come)
After CPI's rise last week (which was somehow briefly seen as 'good' news because it was lower than a wild whisper number), Producer Prices tore up the narrative this morning printing a record breaking 9.6% YoY rise (smashing expectations of +9.2% and well above the +8.6% YoY print for October)....
*****
....And judging by the exploding pipeline for producer prices, things are going to get a lot worse before they get better...
....MORE
Intermediate goods prices increasing at 26.5% seems like bad news.
Especially as they turn into finished goods prices.
