During August, producer prices—the prices received by domestic producers—rose by 8.3% compared to August 2020, year-on-year, the U.S. Department of Labor reported in mid-September. This constituted the biggest increase on record going back to 2010.
This increase combines the interconnected effects of the eruption in energy prices caused by the Green New Deal; the increased shipping costs triggered by the avoidable break-down of the transport supply-chain (raising shipping costs by 4 to 6 times, in some cases); and the inflationary effects of the “all everything” bubble. The U.S. Department of Labor significantly massages both the producer and consumer price indices, so the reported 8.3% increase is considerably understated.
