NYT: Prices jump at fastest pace in 13 years

The New York Times reports prices are climbing at the fastest pace since 2008. The core price index, which strips out volatile food and fuel prices, is rising at its fastest pace since 1992.  

Paul Ashworth, chief U.S. economist at Capital Economics said, “The combination of falling real consumption and soaring prices last month gives off a faint whiff of stagflation.”

NRCC Comment: “Democrats’ wasteful stimulus bill overheated our economy and now the American people are paying the price.” – NRCC Spokesman Mike Berg