Policy Errors: Led by the biggest jump in food prices since 1974, inflation at the wholesale level soared 1.6% in February — a sign, economists say, of even more to come. It’s starting to feel like a rerun of “That ’70s Show.”
As we all worry over Japan’s nuclear disaster and the political meltdown in the Middle East, America faces an equally serious but silent threat from within.
Put simply, wholesale prices, often a trigger for consumer price rises, have taken off. In February, they rose at a 8% year-over-year rate.� (Follow link for more eyeopening details.)