July price data shows mixed reading on inflation - Aug. 16, 2005

July price data shows mixed reading on inflation - Aug. 16, 2005

So how does this comment: "Yes, energy prices are still rising at a towering pace, but we continue to see little evidence of serious penetration of such price pressures into the overall economy"

Square with this: Wal-Mart posts higher profits, misses on sales - Aug. 16, 2005

You can't have it both ways. Perhaps the message is that up until NOW the penetration has not been far enough up the chain to matter, but any n00b can see that sustained for as long as they have been, it must begin to matter.