Inflation is really heating up. Although the inflation numbers are definitely not being reported accurately, sometimes they have to let a little reality through. If the government is reporting the largest single month increase of inflation at the wholesale level since 1974, it makes me wonder what the increase really is! Even with inflation screaming in our faces, you might never know it with the way gold and silver prices have been acting recently.
Wholesale prices surge; Housing rebounds
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - Inflation at the wholesale level surged by the largest amount in more than three decades in November, reflecting higher prices for gasoline and a host of other items.
Producer Price Index, which measures inflation pressures before they reach the consumer, was up 2 percent last month, the biggest advance since a similar increase in November 1974, the Labor Department reported Tuesday. (Read the rest of the story here)