This is what happens when you let a bunch of academic leftist dictate economic policy:

US wholesale prices saw their biggest increase in 11 months in December, led by higher energy and food costs, official figures have shown.

The Producer Price Index rose 1.1% in December, compared with November’s 0.8% gain. It was the largest increase since January of last year.

Heating oil saw the biggest price rise, up 12.3%, while the cost of petrol gained 6.4%. Food prices rose 0.8%.

Excluding energy and food costs, prices rose just 0.2% last month.

This was a slowdown on the 0.3% increase in November, said the Labor Department.

The figures come a day after the Federal Reserve said the US economy was continuing to grow moderately, but suffering from high unemployment.

As pointed out several times @ motorcitytimes.com the three things our government can do to get our economy back on track.

First, allow real energy production including off shore drilling for oil.  Second, enact sound fiscal policies (less spending and lower taxes) and stop the inflationary practices.

And lastly, get out of the way and let the markets work.