INFLATION STRIKES! AMERICANS HIT HARDEST ON BEEF

Posted by getthedaily on Aug. 22, 2008

Get more on getthedaily.com Wholesale inflation increased 1.2-percent in July, according the US-Labor Department, and that has caused domestic costs to rise at the fastest rate in about 30-years. Core prices, which don?t include food and energy, rose .7-percent in July, and consumer prices increased .8-percent over the same period. Beef and soft drink prices has the largest increase in 4-years while the cost of milk went up the most in 1-year. Although costs increased in July, August marked a decrease in prices. While some experts say that 1-month of decreasing prices does not automatically mean inflation will go down, other economists are somewhat hopeful saying that inflation will ease in coming months especially with the recent .2-percent lowered gasoline prices. The dropping prices of US-homes is allowing more homes to be affordable, according to a new report released Tuesday. The National Association of Home Builders said that 55-percent of homes sold in the 2nd quarter of 2008 were ...

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