spacer
spacer
spacer
Posted on August 18, 2008

Business Week: July Inflation a “Real Scorcher”

According to recently released figures quoted in Business Week, July’s inflation rate was double that predicted by economists.

Consumer prices increased by 0.8%, due largely to the rise in energy bills. As it stands now, the current year-over-year inflation rate is the highest it’s been in over 16 years.

It’s hoped that the current decrease in energy prices will bring the total year inflation numbers back down.

In any event, rising unemployment claims coupled with rising prices continue to raise the specter of 1970s-style “stagflation.”

Leave a Comment

eNews & Updates

Sign up to receive breaking news
as well as receive other site updates!

We will not spam you, or sell, rent, exchange, or otherwise share your email address with a third party.

 
spacer
spacer