Twin reports from the Labor and Commerce departments Tuesday show soaring wholesale costs, sluggish housing starts and rapidly rising consumer inflation. Wholesale prices are rising at their fastest rate in 27 years and consumer inflation is at its highest point since 1991.
So what's ahead? Analysts predict some good news for autumn and beyond: lower gas prices, airfare deals and a slowing in increasing grocery prices.
That's welcomed by consumers such as Melvin Vincent of Natomas, who just hopes to find the ceiling on mounting prescription prices.
Vincent is a retired custodian who pays about $300 a month for his medications and is still recovering from a stroke. "(Prices are) going to drop because it can't keep going up. I can't buy my medicines," he said. "It's going to have to level off."
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