U.S. inflation rates, according to the Producer Price Index (PPI), rose a shocking 11.3 percent for the year ending in June, close to the 11.6 percent record high in March, according to a July 14 Bureau of Labor Statistics report.
The PPI index, which measures the wholesale prices of goods that are eventually passed down to consumers, rose 0.4 percent in April and 0.9 percent in May.
