BIDENFLATION: Wholesale prices jump 9.7% in January, further evidence of red-hot inflation. “The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, surged 9.7% in January from the year-ago period, slightly below the 12-year high of 9.8% notched in November and December. But in an unexpected turn, prices rose 1% in January on a monthly basis – well above the revised gain of 0.4% in December.”