Inflation Is a Problem. Today’s PPI Just Confirms It.

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February’s producer-price index is out, but we didn’t need to wait for it to know that the U.S. has an inflation problem.

Producer prices rose 10% year over year in February, up from 9.7% in January on a non-seasonally adjusted basis and in line with economist expectations. It increased by 0.8%, down from 1% in January and slightly below forecasts for 0.9%