In France, consumer prices jumped in May by 0.7% because of rising food prices and resurgent oil prices, lifting the annual rate by half a percentage point.
The lifting mechanism pushes the moist air upward to a point in the atmosphere where the thinner air can no longer hold the moisture, at which time precipitation forms and falls to the ground.
Kansas City Federal Reserve Bank President Thomas Hoenig sounded the inflation-curbing call earlier than Trichet when he said Wednesday that the central bank should consider lifting its target interest rate from its current low point of 0-0.25% that has been in place for more than 2 years.
And the real issue that Western leaders must address is how things in Turkey were permitted to deteriorate to the point they have without any US or European official lifting a finger to stem the Islamist tide?
There is broad consensus among economists who understand the energy markets that lifting the gas tax during this summer is not a good idea from an economic point of view.