Oil prices Monday passed their all time, inflation-adjusted record, just kissing the underside of $104 dollars.
[click here for updated chart]
As the chart above shows, crude prices have broken out from a 6 month consolidation $85 and $95. The commodity looks like it has legs.
While I do not make a habit of forecasting commodity prices, $110, and then $125 are our next two targets.
I got your core inflation right here...