As for the other inflation worries, Cramer said they tend to self-correct over time. A few years ago a shortage of corn sent prices skyrocketing. A year later, farmers planted an abundance of corn and prices quickly returned to normal. He said things like coffee and even avocados should also follow this pattern.
There is inflation in airfares, Cramer conceded, but that's been caused by the many successful mergers in the industry. There's also inflation in oil and gas prices but that's due to political fears in Iraq and Ukraine, not because of anything economic.
Cramer said his bottom line is inflation just isn't on his radar, and it shouldn't be on yours either.
Executive Decision: Cliff Hudson
For his "Executive Decision" segment, Cramer spoke with Cliff Hudson, chairman, president and CEO of Sonic (SONC - Get Report), our nation's fourth-largest restaurant chain with 3,500 locations in 43 states. Sonic last reported a 1-cent-a-share earnings beat on a 5.3% rise in same-store sales and higher gross margins.Hudson said Sonic has implemented a number of programs helping its success, including upping the quality of the food, adding new menu items and rolling out a new, nationwide ad campaign that's given Sonic heightened brand recognition. Hudson also touted the company's new technology initiatives, which are replacing antiquated point-of-sale systems with new interactive touch screens. He said the new systems are now a part of all Sonic's company-owned locations and will be rolling out to franchised locations next. He said the new system is driving sales higher, increasing customer satisfaction and will be part of the company's winning combination for the next three to four years. When asked about food inflation, Hudson said Sonic has been able to combat rising food costs by both raising prices for some items as well as reducing costs in other areas. Overall, he said that inflation is not a major concern for Sonic. Cramer said in the restaurant game there are winners and there are losers. Sonic is clearly one of the winners.