Whither Inflation ?

Gone to the lands of sun and surf, it seems. Or to the various sin cities.

Uh ... the former means Florida and California, the latter means Las Vegas, DC and NYC.

In the heartland in SE Ohio, whole milk is $3.99 per gallon, six hot wings at KFC costs $2.99, and a 14" pizza at the best place in town (now) with four or more toppings costs $10.95. The dinner buffet at the China Wok is $5.99 all you can eat. Actually, milk is 8 cents per gallon if you spend $30 at the local regional supermarket.

That's the price of good weather year round and action and nightlife and lots of people - well off people in the case of NYC and DC. And power. That's not real inflation in those places - just supply and demand and a shortage of "nice places" to live compared to an excess demand by too many geezers and too many rich and powerful people bidding the price of common items up.

Here in the heartland where land is plentiful and the weather is nothing special, homes are available at low prices as are most other items other than gasoline.

This nonscientific survey suggests the cost of good weather year round is about 30%; ditto for living in a power center.

So Ben should just keep rates low as core inflation is contained and low.

Let's not grind down the common man with common desires due to excesses in weather and power centers.