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Article: Economists Believe Rising Cost of Inflation Is Due to Energy, Steel Prices.
- Article from:
- The Baltimore Sun (Baltimore, MD)
- Article date:
- May 25, 2004
CopyrightCOPYRIGHT 2004 The Baltimore Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bill Atkinson
May 25--There is a growing consensus among economists that the cost of inflation for businesses is accelerating beyond expectations because of rising prices for energy, lumber, steel and other commodities.
Yesterday, the National Association for Business Economic said it now expects the Consumer Price Index -- the government's inflation measuring stick -- to rise by 2.3 percent this year and by the same percentage next year, well above earlier projections.
"I did not expect that inflation would come back this quickly," said Carl Tannenbaum, chief economist at LaSalle/ABN AMRO Bank in Chicago and an NABE board member. "What ...