Alltop, all the top stories

Blame the Price of Gas for Everything!

Increase in gas prices drove up wholesale prices in Sept. by the most in 5 mo. Economists say it was mostly s seasonal quirk, and it’s not really as bad as it looks.

BUT -energy prices up, wholesale gas prices up, food prices up big-time.

Other views:

Neil Dutta, an economist at Bank of America, attributed much of the gain in energy prices to one-time factors.

“Is this a harbinger of broad-based inflation that is about to hit the U.S. consumer?” he asked. “Don’t count it.”

and:

The core index has risen 2.5 percent in the twelve months that ended in September, the same as the previous month.

“Inflation is not wildly out of control but it certainly isn’t as tame as would be expected during this stage,” said Jennifer Lee, a senior economist at BMO Capital Markets.

The price of oil fell 52 cents to $86.28 in Monday’s trading. Gas prices at the pump averaged $3.46/gal. on Monday.

Leave a Reply


Reload Image