Inflation Hits Record High in Kansas City Fed Manufacturing Index

Inflationary pressures on goods manufactured in central U.S. rose to a record level in August, according to a survey from the Federal Reserve Bank of Kansas City released Thursday. The Kansas City Fed’s index for prices received jumped to a seasonally adjusted 61 from July’s 52, the previous record high. Fifty-nine percent of manufacturers surveyed said they were increasing prices, 42 percent said they had not changed their prices in the month, and none reported lower prices. The prices paid index jumped to 80, up from 78 in July. This was the second-highest reading recorded after May’s 86. Eighty-two percent of manufacturers reported paying higher prices for materials, 16 percent reported no change, and two percent reported lower prices.

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