i m harris faulkner and you are in the faulkner focus . the producer price index up 11.3% over last year. now adding to fears of a recession compounding trouble for americans after yesterday s consumer prices index hit a four-decade high. notice the number on the left for wholesale prices, the goods being made for us, is cooking hotter than the inflation that we re faced with. now how long do you think it will take for them to pass that along to the consumer? will they even have a choice? former trump economic advisor explains it this way. i would like to walk through how you should think about inflation so people understand why. if you start the car at zero and accelerate 10 miles per hour per month after six months you go 60 miles per hour and after 12 months 120 miles per hour. what s my velocity right now is what you care about. we re hiding how big the increase in prices are that are affecting ordinary americans by a very large amount. inflation is startlingly high ri
not ones to write home about. 11.3% is the jump in wholesale prices from a year ago and came in lot steamier than economists predicted coming off the you know what it feels like when you buy things. consumer prices are up substantially. fastest pace we ve seen since 1981 back in reagan years. you have to go to art laffer to find that out. white house points out wages are up. here is the deal. wages aren t rising at the pace of inflation. you look at a pay cut of 3.6%. if you crunch the numbers inflation is costing the average american household $500 a month. setting on fire every single month because you aren t getting anything for that $500. bill: questions now including this how did we get here? many economists blame out of control government spending along the way. democrats are passed more than $3 trillion in new spending under president biden and they aren t taking their foot off the gas as they look to revamp build back better. let s go to mark meredith live f
your gratitude to those americans who give them, the highest french decoration. a fourth american veteran came ashore in france was not able to be at the embassy but he will also receive his medal legion of honor medal. back to you. martha: extraordinary ceremony. i had the honor to attend one of those. thank you very much. bill: nice to be with you. martha: nice to be with you. bill: see you at 3:00. here is harris. bye-bye. harris: fox news alert. the nation learning that consumers are about to get hit by a new problem with the economy. the companies which make the goods that we buy are now being hit by record breaking prices. this is from a new inflation report now out this morning. and why is the biden administration still trying to pass the blame? who knows? it s not working.