“Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago”
October 14, 2021
“The producer price index rose 0.7% for the month, above the 0.6% Dow Jones estimate, though below the 1% increase in July. On a year-over-year basis, the gauge rose 8.3%, which is the biggest annual increase since records have been kept going back to November 2010. That came following a 7.8% move higher in July, which also set a record…
Employment vacancies fell to 10.44 million during the month, a drop of 659,000 from July’s upwardly revised 11.1 million, according to the department’s Job Openings and Labor Turnover Survey. Federal Reserve officials watch the JOLTS report closely for signs of slack in the labor market. The total fell well short of market expectations for 10.96 million openings, according to FactSet…”
Well 4 million people just quit their jobs. The price increases are reflecting supply and demand. Demand may be the same but supply is going down because of lack or workers to deliver goods and services.