Core inflation rose 0.2 pct for the month, after rising 0.4 pct in April. But that still left core inflation up 3.0 pct in the past twelve months, matching last month's pace. The last time core inflation over a twelve-month period rose more quickly was December 1991.
Overall inflation has risen an unadjusted 7.2 pct for the year
That's core inflation. The "S" word is upon us. Anybody notice that during the 1970's we had some really ugly clothes? Seems like nowadays everyone is being clothed by Wal-Mart (China, various slave labor facilities), ill fitting t-shirts, jeans.