Inflation For Businesses Continues At Double-Digit Pace

Inflation For Businesses Continues At Double-Digit Pace

Inflation for businesses remained elevated as the Producer Price Index (PPI) rose 10.8% from May 2021 to May 2022, a Tuesday report from the U.S. Bureau of Labor Statistics revealed.

The index’s rise was driven largely by energy costs soaring by 5% during the month of May and transportation expenses increasing nearly 3% — a phenomenon that occurred as prices at the pump continually reach new highs and surpass a national average of $5 per gallon.

“Businesses are being forced to raise prices, or succumb to shrinkflation, as transportation of goods goes up,” Job Creators Network CEO Alfredo Ortiz said in a statement provided to The Daily Wire. “All of this leads to Americans becoming poorer than ever.”

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The news comes days after the Bureau of Labor Statistics

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