What a nation of whiners. Can we get another inspirational pep talk from Phil Gramm? Tell us how you made millions from subprime loans again, Phil. Tell us that story one more time so we can sleep soundly tonight and turn that frown upside down.
Soaring costs for gasoline and food pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
The Labor Department reported that wholesale prices jumped by 1.8 percent last month, the biggest one-month rise since last November. Over the past 12 months, wholesale prices are up 9.2 percent, the largest year-over-year surge since June 1981, another period when soaring energy costs were giving the country inflation pains.
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