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Data: FRED; Chart: Axios Visuals

An index of wholesale prices rose 9.6% compared to a year ago, its largest annual gain since the government began calculating in 2010.

The big picture: The Producer Price Index (PPI) started off the year showing 12-month price growth of 1.6% and has moved up steadily all year.

Why it matters: The PPI is a key leading indicator for the prices that consumers eventually pay.

  • "[December] should be the peak," wrote Pantheon Macroeconomics in a research note. "A combination of favorable base effects and smaller month-to-month increases should start to drive down the year-over-year rate."

State of play: On the whole, companies passed on enough of their input cost increases to customers during Q3 to preserve profit margins.

  • Watch for whether margins continue to hold up in Q4. The first round of earnings start rolling in next month.

Go deeper

Jan 13, 2022 - Health

The cost of testing

Expand chart
Note: Prices vary within countries. France and Malaysia prices reflect legal price caps. Data: Axios research; Chart: Axios Visuals

The average cost of a single at-home rapid COVID test is about $12 in the U.S., more than twice the cost of a test in France and more than three times as much as in India.

The big picture: Places like Canada and the U.K. make tests available for free.

Hope King, author of Closer
Jan 14, 2022 - Economy & Business

Record level consumer demand drops as high prices surge

Data: FRED; Chart: Thomas Oide/Axios

Record levels of consumer demand are petering out as high prices cut into wages and add to household worries.

Why it matters: Shoppers will hold off on buying if goods get too expensive — a trend that if big enough could slow down economic growth.

45 million Americans under winter storm watches near New England

Computer model projection showing the winds moving around the powerful East Coast storm on Saturday Jan. 29, 2022. Image: https://earth.nullschool.net

Nearly 45 million Americans are under winter weather alerts and warnings from North Carolina to northeastern Maine Thursday night, as a major winter storm threatens the region.

Why it matters: It is predicted to be the biggest blizzard since 2018 to strike the Northeast with more than 2 feet of snow possible in parts of eastern Massachusetts, according to the National Weather Service.