Despite yesterday's governmental reassurance (a la Venezuela and Argentina) that there is no inflation in the US, the reality for the average man in the street is a little different. We have previously noted that gas prices are 25% above their average price of the last decade but it is another staple that is more worrisome for many in America. As CNSNews reports, the average price of ground beef hit an all-time high this week at $3.61 per pound (up from just $1.82 per pound in 1980). As both a home-cooked and fast-food staple, the price of ground chuck alone has risen 45% in the last 10 years. Nope, no inflation here…
Gas prices may be down but seasonally they are as high as they have ever been…
But it's food that takes the biscuit… as ground beef prices reach record highs…
Nope, definitely no inflation here at all…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/B5Jm0J3nGfw/story01.htm Tyler Durden