Thursday, July 17, 2014

Will This Cause Paul Krugman to Notice Price Inflation?

He looks like a serious Hershey bar consumer.

The Hershey Company today announced  a major increase in wholesale prices.

A weighted average price increase of approximately 8 percent across the company's instant consumable, multi-pack, packaged candy and grocery lines went effective today.

"Over the last year key input costs have been volatile and remain at levels that are above historical averages,” said Michele G. Buck, President, North America, The Hershey Company. “Commodity spot prices for ingredients such as cocoa, dairy and nuts have increased meaningfully since the beginning of the year."

Will this turn Krugie's view? he wrote even today a post attacking those warning about accelerating price inflation:

Understanding the Crank Epidemic...
The answer is that inflation paranoia isn’t a simple misunderstanding that can be corrected by pointing to evidence... Even the rare conservative willing to admit that we don’t yet have high inflation won’t admit that this suggests something wrong with models that predicted a huge inflation surge. No, it’s just a miracle.
Pour this on your nonsense, Paulie:


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