Another Terrible Inflation Report Just Hit As Markets Flounder

Following last week's disaster of a Consumer Price Index reading for May that showed inflation surpassed consensus estimates to rise a full percentage point and bring the year-over-year inflation to 8.6 percent, costs for producers rose 0.8 percent in May — meeting expectations but nearly double April's 0.5 percent increase — for a 10.8 percent year-over-year increase. 

Measuring costs for producers — fuel, packaging, raw materials, and more — PPI continues to measure double-digit inflation upstream from consumers due to all-time high gas prices, a supply chain in shambles, skyrocketing energy prices, and burdensome...