A Fed report on manufacturing in New York state shows that the prices received index—which measures prices manufacturers are paid for the goods they produce—rose to a record high in early November, reflecting how input cost inflation is filtering down through the supply chain and pushing up prices for end consumers. The New York Fed’s Empire State Manufacturing Survey (pdf), published Nov. 15, showed that the prices received index hit a record high of 50.8, up 7.3 percentage points from October’s reading. The prices paid index, which reflects input costs for manufacturers, edged up four percentage points to 83.0—just slightly below its record high of 83.5 reached in May, “signaling ongoing substantial increases in both input prices and selling prices,” the report said. Based on a poll of around 200 manufacturers in New York state, the survey measures price movements from the perspective of industry or producers of products. Economists typically …