I love teaching inferring. We begin with inferring emotions. I have a chart with children's faces showing emotions. I mask the adjectives and the children must say, "I infer that he/she feels..." then we look at the word. We also read the Carl the Dog books and infer using the picture clues. David Wiesner's books are good for this too.
Below is a link to "inference cards". Last year I used one as a mini-lesson. We read it aloud and highlighted the words that helped us infer. I then gave each group another inference card (there are more to print at this site, and they are at a variety of levels) and had them go and read it and highlight the words that helped them infer. We regrouped and shared our thoughts.