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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 900 |
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Nearly the entire rise in inflation came from energy prices. Overall prices rose 0.5 percent in July - and 3.2 percent from a year earlier - after having been flat in June. If consumers are feeling pressed now by higher gasoline prices, matters could become worse this winter when their heating-oil bills arrive...
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Some commodity analysts say that is when the full impact of the higher energy costs will be felt.
The other affect that influence the interest rate is Information Technology. According to the Federal Reserve Bank, IT has reduced the rate of inflation from .5% to 11% in the last decade for firms. Advancing technology has made clowns of forecasters for centuries...
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