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Inflation? What inflation?

Posted by Chris Farrell on Tuesday, May 15, 2007

More evidence that inflation isn't a concern, no matter what the Fed says. Today's inflation report has core consumer prices up 2.3% in the 12 months ending in April. (The core consumer price index is the CPI minus volatile food and energy). Higher food and energy prices aren't pushing prices higher in the rest of the economy--and that's been the story for a long time.

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