No end to rising prices expected as inflation continues

(KYMA, KECY) - Americans should keep pinching those pennies, because inflation is still heading north.

The Producer Price Index, which keeps tabs on average price changes U.S. producers get for their goods, rose 9.7% in the 12-month period that ended last month, according to the Bureau of Labor Statistics.

That's much higher than economists had predicted.

The price increase for January 2022 alone was a full percentage point, doubling the amount analysts had forecasted.

If food, trade, and energy services are taken out of January's data, inflation rose 0.9%, a high not seen since January 2021.