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