Consumer Price Index rose 0.8 percent Nov and annual rate of 4.2 percent

It doesn't help that a lot of farm land is being used now to produce corn for fuel. Good time to be a farmer I guess.

 

World Grain Stocks Fall to 57 Days of Consumption

This year’s world grain harvest is projected to fall short of consumption by 61 million tons, marking the sixth time in the last seven years that production has failed to satisfy demand. As a result of these shortfalls, world carryover stocks at the end of this crop year are projected to drop to 57 days of consumption, the shortest buffer since the 56-day-low in 1972 that triggered a doubling of grain prices.

http://www.energybulletin.net/17261.html