This shows that the index is where it was in 2008, when the CPI was trending higher, as I recall. This spike in the commodity index may not have shown up in the official inflation numbers yet, but it is just a matter of time when it does. After all, it did back in 2008. This chart is worrisome. There hasn't even been a recovery yet, and inflation is around the corner. What will the Fed do if inflation spikes like this? Things could get hairy.
