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Higher prices coming to U.S. shores |
February 17, 2011
As inflation spreads across the developing world, household needs could soon be more expensive for American consumers too. Commodity prices -- from oil to steel to cotton -- are rising across the globe. While that's already being felt at U.S. gas stations, it'll soon be putting pressure on the prices Americans pay for food, appliances and clothing. Prices are rising far more rapidly in developing economies than in the United States. Retail prices in China rose nearly 5% over the past 12 months, much faster than in the United States, where consumer prices were up 1.6% in 2010.
http://rss.cnn.com/~r/rss/money_topstories/~3/vsHKH8Rujyg/index.htm
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