Inflation is back and it is back with a vengeance. If you want to buy a food item imported from abroad, you'll pay about 30% more than you did a year ago. Or, if you want to buy a barrel of oil, that will cost you about 60% more.
Almost every business in America uses imported energy. Every American eats. As far as we know, you can't buy home-grown pineapples or coffee beans – not in the 48 states! And so, what do you know? Prices are going up.
In January, core consumer prices – not including food and energy, directly – rose 0.4%. Projected annually, that is 4.8% and it doesn't include necessities like food and energy.
By not including necessities, the government tries convince the people that inflation is low, but when they shop or pay their utility bills, they know that inflation is back with a vengeance.
How long before we have hyperinflation. Not very long if the government keeps printing money.
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