Second-highest inflation in 26 years…
The consumer price index (CPI, which measures inflation) showed a 1.1% increase in consumer good prices in June alone. Average weekly wages, adjusted for above inflation, fell 0.9% in June as well. This crunch is going to hurt. The yearly inflation rate is 5.0%!
Higher inflation and/or lower wages. You’ll see more [...]
Inflation at near-record levels
July 16th, 2008 · No Comments
Tags: Economics