Ballooning Inflation
Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy. Consumer prices rose by 4.1 percent for all of 2007, up sharply from a 2.5 percent increase in 2006, the Labor Department said Wednesday. Consumers felt the pain when they filled up their gas tanks or shopped for groceries. Prices for both energy and food shot up by the largest amount since 1990.
I predicted this months ago so be sure to insulate yourself against rising prices, outsourced jobs, and a falling stock market:
