Inflating Away...

Hey, did somebody say "inflation"?  Yeah, been saying for a while now.

Well, guess what?

More.

A separate report said consumer prices recorded their largest increase in more than a year in May as costs for a range of goods and services rose, pointing to a steady firming of inflation pressures. 

The Labor Department reported its Consumer Price Index increased 0.4 percent last month, with food prices posting their biggest rise since August 2011. The uptick in price pressures should comfort some Federal Reserve officials who had worried that inflation was running too low. Still, the main inflation gauge watched by the Fed continues to run below the U.S. central bank's 2 percent target.