The Prices Paid Index just rose for its fourth straight month to 78.1: its highest level since April 2011.
You see, when inflation hits, it doesn’t hit all at once. Instead it rolls out into the economy in stages.
The first stage occurs at the “production” level of the economy. In this stage, managers at large manufacturers/production companies will see a spike in the cost of goods and services they buy in order to supply their firms.
This cost is measured by the Prices Paid Index...