The Consumer Price Index, which measures the costs to make things, rose 9.7 percent in the past year, but inflation is going to go a lot higher in the months to come because of this. The Producer Price Index (PPI) shows that prices of core materials and labor used in manufacturing, farming and construction have risen much, much more than the government’s reported rate. There’s no indication that our worldwide supply chain and labor shortage problems are going to be resolved any time soon. Demand remains strong, and supplies remain short, and underlying costs are already giving us a warning that inflation is coming this year. The underlying costs of manufacturing are already warning us that that make up the underlying costs that are already causing us’t . . .
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