Inflation isn’t here yet?

Filed in BP, economy, GOld juniors, inflation, o by on December 1, 2010 0 Comments

From our new site, Wealth Wire : Just as we said here , inflation is here… and it’s likely to stick around for a while. And, according to USA Today: “Have a big, juicy ham on the Christmas menu? Need some butter to bake those holiday cookies? Hope you’re willing to pay a little — and in some cases a lot — more. Just as the holiday season hits, food prices are rising — especially on those items you’ll need to cook for all those gatherings and the staples you always keep stocked in the kitchen. Think meats, milk, eggs, cheese and sugar. Overall, food prices are increasing, and economists say they will keep climbing next year. The increase is nothing astronomical when you look at food prices as a whole. The U.S. Department of Agriculture is predicting that food prices this year will rise 0.5% to 1.5%, the lowest annual rate of inflation since 1992. Next year, the forecast is for an increase of 2% to 3%. “That’s a reasonable amount of increase, especially considering prices last year were a bargain,” said Jerry Conover, director of the Indiana Business Research Center at Indiana University’s Kelley School of Business. But it’s not as reasonable when you look at some individual items or categories, such as meats and dairy, where the jump is significant. Pork, for example, is up 13% from a year ago; butter …

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Inflation isn’t here yet?

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