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Inflation Watch - Butter Prices Hit All-Time Record High

Butter prices hit $3.10 per lb today in Chicago trading - a record high - as it appears the expectations of production increases after the EU milk quota system expired in March have proved "wildly optimistic." Of course, no one should complain at the rising cost of staples like butter (or toilet paper), just ask Jamie Dimon... "let them eat iPhones."

 

 

Charts: Bloomberg