Inflation rate is worst in 17 years
By MARTIN CRUTSINGER, AP Economics Writer
16 Jan 2008
WASHINGTON - Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy.
Appropriate Democratic response? Ridicule the Republicans! "So, my Republican opponent wants you to trust him to get us out of the hole that he helped dig!"
[A related aside: the threat of inflation limits the Fed's ability to provide economic stimulus by cutting rates... 'twixt rock & hard place!]
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