Wholesale inflation is on the rise. After looking into the Generation Y debt problem and the U.S. Housing Bubble and the baby boomer retirement problem, here’s more bad news on the global economics front.

Wholesale prices lept in November by the largest amount in more than three decades by an amount of 2%. This was led mainly by huge increases in the cost of gasoline and new cars and trucks.

The increase in wholesale energy costs was led by a 17.9 percent jump in gasoline prices, which is the largest rise since June 2000.

Energy prices will only get worse for the U.S. over the long term as real oil prices continue to rise over the long term and the U.S. dollar continues its long term decline after what is perhaps the biggest credit binge in world history.

Meanwhile the commodity boom in Western Australia continues. Rumour has it some people working at Dominoes Pizza in mining towns like Port Hedland are on $2000 per week.