US inflation soars at 26-year high on energy prices

**Cold Warrior** · 07-16-2008, 12:46 PM

Don't worry! Be happy! It was worse under Jimmah Carter. Anyway, none of it's true, it's all the liberal media trying to win the election for Barack.

US inflation soars at 26-year high on energy prices

Soaring energy costs drove US consumer prices up 1.1 percent in June to an annual pace of 5.0 percent, data showed Wednesday, prompting a central bank warning and rising stagflation concerns.

The monthly advance in the Labor Department's consumer price index (CPI) was the sharpest since June 1982, while a 0.3 percent rise in core CPI excluding energy and food was the strongest since January.

The surprisingly stiff momentum in consumer prices exceeded analysts' consensus forecasts of a gain of 0.7 percent in headline inflation and a 0.2 percent rise in core inflation.

In May, headline inflation was up 0.6 percent from April and the core rate increased 0.2 percent.

On a 12-month basis, CPI was up 5.0 percent in June, the hottest annual inflation level since May 1991. Core CPI was 2.4 percent higher than in June 2007, the strongest rate since March

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No need to panic, everyone. Georgie workin' hard on the problem.

**LogansPapa** · 07-16-2008, 01:08 PM

Wonder if W’s definition of "families going through a tough time" is going to change when they have to chose between heat, food, or gasoline for their Christmas gifts. He won’t really be able to be justifiably pissed-off when Chavez comes to the rescue again in Brooklyn.

**Molon Labe** · 07-16-2008, 01:16 PM

Originally Posted by LogansPapa

Wonder if W’s definition of "families going through a tough time" is going to change when they have to chose between heat, food, or gasoline for their Christmas gifts. He won’t really be able to be justifiably pissed-off when Chavez comes to the rescue again in Brooklyn.

I'm surprised he even went that far to suggest "tough times".
He has no clue.