Why are we in a bad mood, Barry?

The three-month annualized increase in the Consumer Price Index (CPI) has gone from 2.9% in September, to 3.3% in December, to 6.1% in March.

The acceleration in more sensitive producer prices has been even more startling, with the three month annualized rate of advance in the Producer Price Index for Finished Goods rising from 4.1% in September, to 9.2% in December and a stunning 13.1% for the three months ending March.