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Breitbart Business Digest: Masks in place, economy down

Another day, another drop in alarming data for the US economy.

The Producer Price Index (PPI), which measures costs paid by wholesalers, jumped a record 11.2% last month from a year ago. This year-over-year increase far exceeded already bleak forecasts. The sharp rise is yet another piece of data suggesting that inflation will be with us for some time.

So-called wholesale core prices, which the Fed considers a reliable predictor of inflation, also rose much more than expected.

The media and Biden administration narrative is to blame the war in Ukraine (i.e. Vladimir Putin) for the latest set of scary data. But that’s just spin. Although the inflation rate soared to 8.5% earlier this week, it was already at 7.9% when Putin invaded. This represents an increase from 1.7% in February 2021.

Additional news that won’t help Biden’s economy is that the Big Joey administration has extended federal mask mandates on planes. Even though we learned early in the pandemic that airplanes are relatively safe places due to their state-of-the-art ventilation systems, we will continue to don the face layer for at least two more weeks. The Bummer virus persists and will continue to hamper the economy. It’s no coincidence that Delta reported a loss of $940 million in the first quarter.


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