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Inflation Explodes to Record-Breaking High

The prices of products manufactured in the U.S. central Atlantic region rose in January at the fastest annual pace recorded in data that stretches back twenty-five years, according to a survey from the Federal Reserve Bank of Richmond released Tuesday.
The Fifth District Survey of Manufacturing Activity found that prices charged by manufacturers for their goods were up 11.27 percent compared with a year ago, the biggest year-over-year surge of inflation on record in survey data going back to 1997.
The prices paid for materials and components used to manufacture products also jumped at a record pace, soaring 14.3 percent. That is also the highest ever inflation reading recorded in the survey.
Both measures show inflation re-accelerating in January. In December, the prices received gauge showed 8.26 percent inflation and …

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