Consumer Prices rise in June 08

June consumer prices rose 1.1%,while weekly wages fell 0.9% even after adjusted for inflation.On July 15,the US Dept. of Labor said wholesale prices were rising at the highest annual rate since 1981.The only time in the past 25 yrs. that inflation has been at such a high rate as now was Sept. 2005,mostly because Hurricane Katrina shut down oil refineries and oil prices had a sudden and steep increase.With gasoline over $4 per gallon and staying there as far as anyone can predict,possibly even climbing,the average consumer is in a besieged mentality.Oil prices are 80% higher than 12 mos. ago.