Yesterday we said that Hershey was increasing prices for its candy because supplies and energy costs for them went up.
Today, the Labor Department said a whole lot more than chocolate is going up in price. Inflation is double what was expected, and inflation basically is a measure of how much EVERYTHING is going up in price.
So if you are in the habit of looking at the gas signs along the road to figure out when this economy is going to turn around, I wouldn't recommend it. Gas is probably the only thing going down in price with an inflation rate of 1.2 percent.
And no, that's not small. That means that for all intends and purposes, for every $100 you have in the bank, you have lost $1.20 in buying power. Have $10,000 to your name? Well, sorry about your luck, you just lost $120 worth of buying power.
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