The Fed has a mandate to keep inflation in check. But global forces and worries about the U.S. economy will keep prices high for the foreseeable future.
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Showing posts with label Inflation. Show all posts
Showing posts with label Inflation. Show all posts
Saturday, June 14, 2008
CNN: Get Used To High Prices.
Friday, June 13, 2008
Oil and Food Push Consumer Prices Higher in May
Inflation hit hard in May as prices for a wide swath of consumer goods rose at their fastest pace since November, underscoring warnings from central bankers and adding to a growing consensus that the Federal Reserve could raise interest rates by the end of the year.
The Consumer Price Index, which measures prices of a batch of common household products, rose 0.6 percent last month, with much of the increase coming from high fuel costs. The nationwide average for gasoline topped $4 a gallon last weekend as the price of oil reached record levels.
Sphere: Related ContentThursday, May 29, 2008
UN warns about rising food costs
Higher food prices may be here to stay as demand from developing countries and production costs rise, says the UN's Food & Agriculture Organisation (FAO).
It warned that the current spike in global food prices was higher than previous records, partly because bad weather had ruined crops.
Although high prices will ease off, other factors, such as rising biofuel demand, will keep future costs high.
The FAO said speculators were also to blame for volatile commodity markets.Read Full Story Sphere: Related Content
Wednesday, April 23, 2008
Rising inflation: Could the United States have prevented it?
Inflation, public enemy No. 1 in the 1970s in the United States, appears to be regaining its former title in the first decade of the 21st century.
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Tuesday, April 22, 2008
Can We Feed The World?
The era of cheap food is over. In Britain, a standard white loaf costs more than £1, grocery bills are driving up inflation and land prices are going through the roof. But steep rises in the price of staples such as wheat and rice are having an even bigger impact on poor countries.
read more | digg story
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