Procter & Gamble to Increase Prices as Much as 16% Bloomberg (hat tip Ed Harrison). I missed this story, but what is interesting is that they are holding off on price increases until September (um, to give consumers time to stockpile?) and they intend to recover 1/3 of their cost via distribution savings. In a time of high shipping costs, that sound like double-speak (they can’t dictate end prices and squeeze retailers….).
Welcome to a world with $500 oil Willem Buiter
Shanghai seems to discount the fight against inflation Michael Pettis
3,200 Martial Arts Studios Went Out Of Business In May Michael Shedlock
Antidote du jour. I could have adopted a cat that was described as an Abyssinian colored football. But the cat was in Michigan and I was in New York, so that never came to pass. I now have an idea of what I missed: