Wal-Mart U.S. CEO Bill Simon told USA Today that he expects serious inflation to occur. Simon says, "We're seeing cost increases starting to come through at a pretty rapid rate."
USA Today also has a quote from John Long, a retail strategist at Kurt Salmon, who says, "Except for fuel costs, U.S. consumers haven't seen much in the way of inflation for almost a decade, so a broad-based increase in prices will be unprecedented in recent memory."
This is not good news. Inflation will really hurt consumers in an economy when there is little job creation going on. Take a look:
