Economist flags ‘smoking hot’ warning sign in report on brewing price shock

Summary

A closely watched report that tracks price pressure before it reaches store shelves just flashed a warning that shoppers won't like. Producer prices climbed 0.3% from September to October, while the annual rate jumped to 6.5%, its highest level since fall 2022, CNN senior reporter Matt Egan said Friday. He pointed to the war with Iran as a major driver. "We pay attention to this report because it acts like an early warning system," Egan explained. "It really measures pricing pressure that's building up in the system before it hits store shelves." The monthly figure came in slightly better…

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