The inflation news released today is not good news. We had a 1.1% increase in the CPI in just the past month, according to a report released today by the US Department of Labor. This is the kind of double digit annual inflation that many of us have been worried about. Mind you it was only for a month, but inflation can be infectious in an economy. The ripple effects of energy will soon make their way through the rest of the economy if this persists.
And if you think I am the agent of doom (and I know at least a few of you do feel that way) read what Nouriel Roubini, Chairman of RGE Monitor and Professor of Economics at the NYU Stern School of Business, has to say. (Thanks to Andy Tabar for passing this along).
Some good us inflation charts including detailed item level indexes – http://metricmash.com