Publisher’s Letter: Inflation is a concern


By Murray W Wolf

Dear Reader:

Financial markets are becoming increasingly worried that rising inflation might inhibit economic growth in 2006, and there is data to support those concerns.

The annual U.S. inflation rate, as measured by the Consumer Price Index (CPI), has remained less than 5 percent since 1991. However, for the nine months ended Sept. 30, consumer prices increased by a seasonally adjusted annual rate (SAAR) of 5.1 percent. That’s compared with annual inflation rates of 3.3 percent in 2004 and 1.9 percent in 2003.

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