Tag Archives: Inflation

Food inflation seen back on the table as prices rise


* Strong correlation with high oil price

* Corn, soybeans gain on physical markets in March -FAO data

* U.S. soybean futures jump in March on tight supply concerns

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Energy Secretary Chu Admits Administration OK with High Gas Prices

From Yahoo News…

COMMENTARY | President Barack Obama’s Secretary of Energy Stephen Chu uttered the kind of Washington gaffe that consists of telling the truth when inconvenient. According to Politico, Chu admitted to a House committee that the administration is not interested in lowering gas prices.

Chu, along with the Obama administration, regards the spike in gas prices as a feature rather than a bug. High gas prices provide an incentive for alternate energy technology, a priority for the White House, and a decrease in reliance on oil for energy.

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Graphic: The spread of Worldwide Unrest

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US Jobless Claims Up, Gasoline Lifts Consumer Prices

From CNBC…

The number of Americans claiming new jobless benefits rose last week and consumer prices increased at the fastest pace in four months in July, highlighting the challenges facing the Federal Reserve.

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Inflation Edges Up

From AP…

WASHINGTON (AP) — A key measure of wholesale inflation rose in July by the most in six months.

The measure, called core wholesale inflation, excludes volatile food and energy prices. It surged 0.4 percent last month.

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