“First it was gas prices, then it was food prices, and now it is the turn of basic utilities to see costs surge by double digits. ‘Japanese utilities, forced to idle their nuclear power plants over the past two years and facing higher fuel costs due to a weak yen, are now looking to push through double-digit rate hikes for their commercial customers.’ This means less disposable income, less corporate profits, less monetary velocity, less growth and ultimately less ‘inflation’ in other things such as the much desired stock market, which was supposed to be the wealth effect offset to all staples price increases.”
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