Detailed text transcripts for TV channel - FOXNEWS - 20110513:13:06:00

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average man or woman, do we have inflation, they will be sceptical if you say inflation is mild because you have food price inflation, you have got gas price inflation. i have gas at a national average of $3.98 a gallon. >> you don't have wage inflation unfortunately. >> reporter: it would seem sooner or later, pretty soon, actually, you will have inflation in food and energy break out into all kind of other products. i think you will see inflation keep edging up. whether it goes way up there, that's something i'm not prepared to forecast. but inflation is edging higher, period. >> anything we can do about it? >> reporter: you can stop printing money by the federal reserve. you can make serious spending

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