The U.S. Labor Department has released some new statistics today.. Can you say INFLATION? Looks like WHOLESALE Prices of goods and services increased by 1.2% in July, and by almost 10 % this year, which is the highest since 1981.. What does this mean? Higher Grocery and other goods prices coming soon to a Mega Store near you! The price of food has increased on average of 8.7% over last year..
It's not ALL bad news.. While the price of Crude Oil (think Gasoline) doubled over the past 12 months, in July the price dipped by 24%..
Hang on to your wallets folks, more bad times coming for the rest of 2008..
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