The US Bureau of Labor Statistics (BLS) a few week ago released new data that showed consumer prices at full-service restaurants increase 9 percent in August compared to the year before, even surpassing the economy-wide four-decade record inflation rate of 8.3 percent! Meanwhile, costs of food consume at home skyrocketed by 13.5 percent over the same period – the quickest 12-month increase since 1979, when Jimmy Carter was still in the White House! At the same time, the University of Michigan monthly survey of consumers earlier in September showed a slight increase of 1.3 point over the previous month, up to 59.5. Inflation continues to be the biggest drag on consumer attitudes with uncertainty over short-run inflation reaching levels not seen since 1982. Despite the slight improvement, consumer sentiment still languishes well below 2021 levels.