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U.S. Inflation Jumps By Biggest Amount In 6 Months

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posted on Jun, 13 2008 @ 09:54 AM
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U.S. Inflation Jumps By Biggest Amount In 6 Months


www.iht.com

Inflation shot up in May at the fastest pace in six months, pushed higher by soaring costs for gasoline and other types of energy the U.S. labor department reported Friday.

Consumer prices rose by 0.6 percent last month, as gasoline costs surged by 5.7 percent. Food prices, which have also been rising sharply, were up 0.3 percent as the cost of beef and bakery products showed big gains.

(visit the link for the full news article)




posted on Jun, 13 2008 @ 09:54 AM
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Woo-hoo! Up and up the prices go, where they'll stop nobody knows! Thanks Fraudulent fed! Keep up the great work of helping bankrupt America and turning the dollar into toilet paper! Pretty soon both gas AND milk will be $10 bucks a gallon with your awesome policies.

It will be intersting to see the economic statistics guys try to spin this with their pie-charts and graphs, and tell us how it's "really not doom and gloom" as usual. lol


The Federal Reserve, which from September through April had been aggressively cutting interest rates to fight a mounting economic slowdown, is now indicating that its biggest concern has changed from the threat of a recession to worries that inflation could get out of control.

In a speech Monday, Fed Chairman Ben Bernanke said that the Fed will "strongly resist an erosion of longer-term inflation expectations." Those comments have raised expectations that the Fed's next move later this year will be to start raising interest rates.




www.iht.com
(visit the link for the full news article)



posted on Jun, 13 2008 @ 10:15 AM
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Inflation jumped more than these numbers show, and people are trying to pass off the core inflation rate as still low...but it's easy to say inflation isn't a problem when you ignore food and energy...because NO one uses those


This isn't the Fed's fault alone, it's also Congress's fault...the dollar's strength is a result of BOTH fiscal (Congress) and monetary (The Fed) policies. It's also not just America suffering from inflation, look at what the other Central banks are doing...at least the Fed is finally starting to sound a bit more hawkish...but in the long run our budget deficit is so large the Fed is pretty powerless in saving the dollar.



posted on Jun, 13 2008 @ 10:39 AM
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reply to post by yellowcard
 


I was going to say the same thing and you beat me to it. These numbers they are passing off disgust me. Thats why Im glad companies like Dow Jones and what not are raising their prices. The government will not have to realize the inflation instead of excluding food and energy. God that annoys me and thanks Carter for starting that bull crap. For to long we businesses have eaten profits to keep prices tame and no more. I raised all my prices also. The government needs to see that this IS an issue and quit with the BS numbers.



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