7 Ways Inflation Will Hit Americans in 2012

While many pundits have toasted �easing� inflation in the U.S., American consumers must be left scratching their heads. Sure, U.S. inflation grew at “only” a 3% annual rate in December, down from 3.4% in November, but 3% inflation still doesn�t mean our wallets got any heavier.

The truth is, while we did actually get a break at the pump (if $3.25 gas still can be considered a break), that only helped offset increasing prices for food and other goods. The core U.S. inflation rate was unchanged from November at an annual rate of 2.2% — the highest margin since October 2008.

With the economy still trying to muster a recovery, and unemployment still around 8.5%, any price increases are painful. And just a month into 2012, a spate of headlines points to more hurt ahead. Here�s seven ways inflation will be digging into your wallet this year:

Already at all-time highs, analysts say U.S. beef prices will climb another 4% to 5% in 2012, largely thanks to droughts that have cattle counts at 50-year lows. And that�s following a 10% increase in 2011. Booming exports as a result of a falling dollar also have hit at home.

At the beginning of January, increasing coffee and milk prices prompted Starbucks (NASDAQ:SBUX) to announce a 1% price increase across the Northeast and Southwest.

The USDA predicts a host of other food-price increases, including cereal and bread (4.5%), chicken (4%) and fruit (4%). The agency says that won�t just be felt at the grocery store, but restaurants likely will have to pass on those increases to consumers, too.

Colgate-Palmolive (NYSE:CL), reeling from a 5%-plus earnings decline in the past quarter, recently said it raised prices in North America by 0.5% in the fourth quarter — its first such hike in more than two years. The maker of dish soaps, toothpaste and other home wares said globally prices were up 3% for the quarter and 1% annually, and 2012 would be similar.

Gas prices already have gained about 15 cents per gallon — from $3.25 to $3.40 — nationally since the start of the new year. And still looming are threats by Iran to close the Strait of Hormuz, which Morgan Stanley (NYSE:MS) analysts say could make crude oil prices jump by $40 per barrel.

U.S. airlines, in their constant battle with fuel prices, kicked off 2012 with a price hike.�Delta Air Lines (NYSE:DAL) announced a $20 increase in round-trip tickets on longer routes a couple weeks ago, and United Continental (NYSE:UAL), Southwest (NYSE:LUV), US Airways (NYSE:LCC) and American Airlines all followed suit.

Sending a letter? That first-class postage is up 1 cent more in 2012, too. And companies like streaming-video and DVD delivery giant Netflix (NASDAQ:NFLX) that rely heavily on the mail — Netflix spent up to $600 million on DVD postage in 2010 — could end up passing the favor to its customers. And considering the constant woes of the USPS, another price hike isn�t out of the question.

Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities.�Follow him on Twitter at @KyleWoodley.