US Inflation rising fast

[irishbobcat]

US inflation rises at fastest rate in 26 years

July 22, 2008

The Times Online reported last week that US inflation soared at its fastest rate in 26 years during June, placing more pressure on American households already struggling with record food and fuel costs.

The cost of living rose by 1.1 per cent, the biggest increase in inflation since 1982, while core inflation which excludes food and fuel costs rose by 0.3 per cent â€" above analysts’ expectations.

Ben Bernanke, chairman at the US Federal Reserve, said inflation risks had “intensified” and posed a “significant challenge” for policymakers. Mr Bernanke is due before the US House Financial Services Committee for a second day of testimony on the economy.
Annual inflation rose 5 per cent in the 12 months to June, the largest increase since 1991, pushed up by rising fuel costs after the price of oil recently reached a new record of over $146 per barrel.

As the Write-In Green Party Candidate for Congress in Ohio’s 6th District, I believe we must begin work as soon as possible in making  the Ohiio River Valley the new Renewable Energy Manufacturing Giant to help lower fuel costs and food costs.

Charlie Wilson has failed to deliver since being sent to Washington, it’s time we sent a representativbe to Congress who will get the closed factories along the Ohio River humming again making blue-collar products for solar, wind, and geothermal energy sources.

Dennis Spisak-Campaign site: Http://votespisak.org/electspisak.tripod.com

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