Daily Revolt

January 16, 2008

2007 Inflation up by Largest Amount in 17 years

This is very serious. I wished that the Presidential candidates showed more concern, not just lip service. We need leadership right now. And we certainly aren't going to get it from that clown in the White House:
Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy.

Consumer prices rose by 4.1 percent for all of 2007, up sharply from a 2.5 percent increase in 2006, the Labor Department said Wednesday. Consumers felt the pain when they filled up their gas tanks or shopped for groceries. Prices for both energy and food shot up by the largest amount since 1990.

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