In a surprise development, the government reported last week that consumer prices jumped 0.5% in March, or 6.2% on an annual basis, reminding us of the days when double-digit inflation had everyone clipping grocery coupons. In case you don't remember, here's a quick refresher on what inflation means to you.
--Is inflation back?
Yes. Technically, it never went away. Consumer prices creep up a bit every year. But for the past couple of decades the annual rate hike has been falling--to just 1.7% in the past 12 months. Now the rate of increase is rising. It should exceed 2% this year...
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