A Fed report on manufacturing in New York state shows that the prices received index—which measures prices manufacturers are paid for the goods they produce—rose to a record high in early November, reflecting how input cost inflation is filtering down through the supply chain and pushing up prices for end consumers.
The New York Fed’s Empire State Manufacturing Survey (pdf), published Nov. 15, showed that the prices received index hit a record high of 50.8, up 7.3 percentage points from October’s reading.
