The inflating costs of energy has some policymakers concerned about its impact on the economic recovery as consumers redirect their spending obligations. However, it is important to weigh inflation relative to the base cost. For example, energy costs are inflating faster in the U.S. and Canada, but the base cost of electricity in these two countries is half that of the UK, Italy, or Japan. Germans pay nearly three times as much for electricity as Americans or Canadians and so the impact of any inflation is worse. In Italy, energy costs are high and so is the inflation rate, making it far more concerning.  A similar situation exists in the food sector. Food inflation in Canada and the U.S. at 2 percent and 2.5 percent respectively, is...