Alright it has finally happened.
I agree with CAR on something.
The only qualification I would have is that I think food is more elastic than fuel.
Supply shocks or price spikes in gas will effect a lot more things more quickly than wheat (or other foodstuff) prices.
The biggest inflationary pressure it will have is in the lowest consumer rung (people who spend more of their income on groceries).
I think this compartmentalization is due to the fact that we produce so damn much of the stuff.
My two bits.
