This news shouldn’t be shocking. In fact, we’ve been told over and over again that it’s going to get much worse. My guess is we as a nation will continue to ignore it until we’re right smack in the middle of it.

U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday.

and…

Still, inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. “We’re seeing cost increases starting to come through at a pretty rapid rate.”

The video below shows the interview with Walmart’s CEO. He talks about it briefly in the beginning and then circles back to it at about 3:30 in the video. (Those reading in email will need to click here to watch the video)