Tuesday, April 12, 2011

Inflation confined to Energy and Food?

Import and Export price data for the month of March
  • 2.7 percent increase in import prices month over month, year over year an eye-popping 9.7%
    • 10.5% rise in prices of petroleum imports seen as the cause, excluding petroleum, import prices rose 0.3%
  • 1.5 percent increase in export prices month over month, year over year at 9.5%
Bloomberg reports, "Inflation in today's report is definitely hot but it's confined to energy and food."  Here at SilverDoctors.com we wonder why the media keeps diminishing the impact of higher energy and food. How crazy must you be to not realize this will eventually (if it hasn't already) impact overall costs of everything?