THE “I-WORD,” INFLATION, has recently leapt back into the national conversation, after years when it barely registered as a concern. May’s Consumer Price Index (CPI) numbers showed prices increasing .8% in April over the previous month and 4.2% over the previous year—the biggest gain since September 2008.1 While these results don’t guarantee a long-term trend, “surveys show a significant increase in consumers’ inflation expectations,” says Nick Giorgi, an investment strategist with the Chief Investment Office (CIO) for Merrill and Bank of America Private Bank. Among the primary inflation catalysts, he cites money ... (full story)