Stagflation: Yes, I Said It

Now the question becomes: If a real trend finally started and the business media were not there to write about it, is it, in fact, a trend?

We'll get to my growing collection in a moment.

Right now, as you know, I have been large-picture bullish for the past couple of years. And I still, as of this moment, believe the deterioration in housing prices will mitigate the inflation pressures that are currently lurking. I am currently capturing signs of stagflation, particularly from companies that sell small daily pleasantries (like pizza and chocolate) or small daily requirements (like soap and deodorant).

With apologies to the media at large, three does not make a trend for The Business Press Maven. But for now, here are the three most prominent members of our collection. If more are caught in my net, I may be reappraising my bullish stance:

Per this Bloomberg report, Procter & Gamble(PG Quote) lost $2.82, or 3.9%, to $69.01. The company forecast a full-year profit that trailed analysts' estimates on slowing U.S. consumer spending and higher commodity expenses.

As seen here, Hershey's(HSY Quote) on Oct. 18 announced disappointing earnings "against a backdrop of severe commodity cost pressures."

Then on Oct. 16, David A. Brandon, Domino's(DPZ Quote) Chairman and CEO, said: "Unprecedented cost pressures and a weak consumer environment negatively impacted our domestic results in the quarter, which made striking the right balance between increasing prices, while operating in a period of declining traffic, very difficult."