According to the AP:
The reported Tuesday that its , which measures the costs of goods before they reach store shelves, shot up 1.4 percent in May.
Get this President and the whole lot of Congress the hell out of town now. Their drunken spending is the biggest cause of this inflation via debt-induced money creation. This time, it's the Republicans driving up record-shattering spending overseas, with the Democrats all too happy to go along in order to get their record-shattering domestic spending.
If I were inclined to conspiracy theories -- sorry, I'm fresh out of tinfoil -- I'd say they were trying to destroy our currency on purpose. This war doesn't make any sense. The Federal Reserve isn't making any sense. They appear to be committing economic suicide.
Off to buy more precious metals while my rubles are worth anything at all. Ron Paul was America's last hope.