(WSJ) As Food Prices Rise, The Federal Reserve Keeps a Watchful Eye

U.S. food prices are on the rise, raising a sensitive question: When the cost of a hamburger patty soars, does it count as inflation?

It does to everyone who eats and especially poorer Americans, whose food costs absorb a larger portion of their income. But central bankers take a more nuanced view. They sometimes look past food-price increases that appear temporary or isolated while trying to control broad and long-term inflation trends, not blips that might soon reverse.

The Federal Reserve faces an especially important challenge now as it mulls the long-standing dilemma of what to make of the price of a pork chop.

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Posted in * Culture-Watch, * Economics, Politics, Dieting/Food/Nutrition, Economy, Federal Reserve, Globalization, Personal Finance, The U.S. Government