Today the BLS put out its official Consumer Price Index numbers. From July 2010 to July 2011, unadjusted CPI rose 3.6%.
Yesterday the Producer Price Index (PPI) numbers came out. Here is the breakdown of 12-month changes by category:
Finished goods +7.2%
Intermediate goods +11.6%
Crude goods +22.6%
If I didn’t know any better, I’d say prices can rise even in the face of high unemployment…