April's producer price index for finished goods, which excludes services and falling home prices, rose 6.8%. The Bureau of Labor Statistics reports that intermediate goods prices for April were rising at a 9.4% annual clip.

Fuck.

This would only be useful if it was having a positive impact on housing prices.

It isn't.

Which means the value of your assets is collapsing and the value of your cash is collapsing.

Ronald McKinnon: The Return of Stagflation - WSJ.com