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If Californians want to slow the unrelenting spiral of upward prices, they would have to do things that I don't think Californians — especially homeowners — are prepared to do.
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Doing that would reduce the upward price pressure on financial assets.
But that figure substantially overstates the upward price pressure of those speculative positions.
Several district banks reported that "upward price pressures from rising commodity and input prices have eased substantially," the Fed said.
Knight Frank said the long-term outlook for house prices in cities was of further upward price pressure.
But the figure for the rate of annual increase in May was 9.7%, reflecting strong upward price movements a year ago.
The upward price spiral was reflected in the findings of the Case Shiller Weiss repeat-sale survey.
"For sure, with higher feed grain prices there is potential for upward price pressure particularly on pork, poultry and beef," said Luke Mathews, commodity strategist at Commonwealth Bank of Australia.
Still, as Abdolreza Abbassian of the UN Food and Agriculture Organisation says, such talk can add to the upward price momentum.Will prices remain high?
One way of looking at the global economy is that it is in need of a source of excess demand and upward price pressure.
Recent inflation figures suggest that there is still little upward price pressure in America, despite the implication of the Fed's rate increase.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com