Inflation is making a quick comeback after touching the lowest levels in decades last fall.
Fast-rising prices for food, fuel and other basic necessities, stoked by rapid growth in emerging countries, are coming home to American consumers despite reluctance by U.S. businesses to raise their prices.
A report from the Labor Department on Thursday showed consumer prices rose by 0.4 percent in each of the past two months — or a 4 percent annual rate over the last quarter f fed by the biggest gains in food prices in two years and surging energy prices.
The report also showed a broadening of price pressures as airlines jacked up their fares by an average of 2.2 percent to pass on the cost of higher fuel and retailers raised clothing prices by 1 percent to reflect the higher costs of cotton and other fabrics.
http://www.washingtontimes.com/news/2011/feb/17/inflation-makes-comeback-prices-rise-food-fuel/
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