More evidence that Uncle Milt was wrong

Socialist bankers do not have smooth control over inflation:

Nonfuel Industrial Supplies and Materials: The price index for industrial supplies and materials excluding fuels increased 0.7 percent in July following a 0.4 percent decrease in June. Higher prices for fertilizers and other chemicals were the largest contributors to the increase. Over the past 12 months, the index rose 16.3 percent. Zero Hedge quoting new BEA release, I think.

We leak information! We are getting hedged in international trade.