Inflation: Is It Really Back?

Steidtmann, Carl
June 2004
Convenience Store News;6/14/2004, Vol. 40 Issue 8, p18
Trade Publication
Everyone's talking about it, but the indicators don't necessarily back up a return of inflation in the U.S. The case for rising inflation starts with rising commodity prices. The Commodity Research Bureau spot commodity index is up 23.1 percent over the past year, and lumber, soybean, corn and gold prices have all risen sharply. Food prices are particularly sensitive to rising commodity prices. While politicians have been harping about this being a jobless recovery, more than 500,000 jobs have been created in the past three months. Initial unemployment claims continue to fall. The labor market starts this recovery at the lowest jobless rate and the highest labor-market participation rate of any recovery in the past 30 years.


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