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Got (Record-High-Priced) Milk?

Hot on the heels of yesterday's low PPI and this morning's falling CPI, we thought it worth noting (given The Fed's pre-occupation that inflation is running too low) that the price of milk - that staple of the American diet - just hit an all-time high. Nope, no inflation here...

 

 

As an aside, while correlation is not causation, the price of milk and the growth of the Fed Balance Sheet have an 82% correlation since March 2009.

 

Chart: Bloomberg