Inflation in Mid America Spikes, But at a Lower Rate

Inflation in Mid America has increased, but at a lower rate than expected. The July Mid America Business Conditions Index shows elevated inflationary pressures across nine states from the Dakotas to Arkansas.

According to Dr. Ernie Goss, Creighton University economist, too many inflationary pressures remain in the economy, and he believes the Federal Reserve wants to increase interest rates.

Goss warns that the country's economy is nearing stagflation, a condition characterized by high inflation combined with stagnant economic growth.