Consumers paying 7.4% more for food than they were last year--could lead to macro-economic repercussions by Fall

Karl Denninger at The Market Ticker warns:

Now let me point out that we’re not quite where you have to ring the “oh crap” bell yet. There’s another month or two before that happens — but by June, if the trend we’re seeing here hasn’t broken this will get into the forward economic analysis mindspace of most of the people who look at this stuff.

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