Richmond Fed Survey Highlights Fed Dilemma: High Inflation in Contracting Economy
Manufacturers reported raising prices even more in November than in October or September.
Manufacturers reported raising prices even more in November than in October or September.
High cost inflation may be triggering demand destruction, squeezing business margins as new orders slow.
Prices are expected to climb even faster, according to a survey by the Richmond Fed.
Nearly 81 percent of New York manufacturers said they faced higher prices in May than April.
Autos and mining were weak in October but oil and gas drilling rebounded.