Thursday, May 19, 2011

Think prices are high? Just wait ’til summer

By John Crudele

Prepare yourself for a summertime inflation shock.

An expert who helps put together the government's Consumer Price Index (CPI) says that the closely-watch inflation gauge could rise abnormally "after June."

If gasoline prices should rise, then the jump that's already baked into the summer CPI numbers will be even more pronounced.

There is also a lot of other tricky financial stuff going on right now. If, for instance, Congress stumbles in trying to raise the nation's debt limit -- well, nobody really knows what will happen to the economy, inflation and interest rates. But it won't be good.

http://www.nypost.com/p/news/business/think_prices_are_high_just_wait_e8UQsYRLzapNcvWe0cgEIO

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