Producer Price Index Crushes Exp's Ripping A Record 9.6% YOY, The Real Inflation Hasn't Even Begun

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Producer Prices tore through expectations printing a record-breaking 9.6% YoY rise crushing expectations of +9.2% and well above the +8.6% YoY for October. core PPI surged:
Ex-food and energy +7.7% YoY vs +7.2% exp and +6.8% prior
Ex-food, energy, and trade +6.9% YoY vs +6.3% prior
Both Goods and Services prices rose with Energy and Transportation costs the biggest drivers.
Within final demand goods in November, prices for iron and steel scrap rose 10.7 percent. The indexes for gasoline, fresh fruits and melons, fresh and dry vegetables, industrial chemicals, and jet fuel also moved higher. Conversely, prices for diesel fuel decreased 2.6 percent. The indexes for processed young chickens and for light motor trucks also fell.
Leading the November increase in the index for final demand services, prices for portfolio management advanced 2.9 percent.
In short the inflation was never transitory and we haven't seen anything yet.