Producer Prices in the US rose 5.4% over the last year and 4.1% per year over the last 5 years.
2% inflation is a myth.
The Fed has lost all credibility when it comes to fighting inflation.
Producer price increases in Japan eased slightly to 7.2% year on year in July, official data released Thursday showed.
The reading compared with the 7.4% expected by economists polled by Reuters, and was down from a revised 7.3% seen in June.
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