SAN DIEGO—The average price of a gallon of self-serve regular gasoline in San Diego County rose Oct. 5 to its highest amount since Oct. 23, 2012, with further increases expected. The average price rose eight-tenths of a cent to $4.372, one day after increasing three-tenths of a cent, according to figures from the AAA and…
Average San Diego County Gas Price Rises to Highest Amount Since 2012
Fed’s Preferred Inflation Gauge Shows Prices Continued Skyward Vault in August
Inflation ran red hot in August, according to the Commerce Department, with the headline Personal Consumption Expenditures (PCE) index surging 4.3 percent over the year to a level not seen since 1991. Meanwhile, the core PCE inflation index, which excludes the volatile categories of food and energy and is the Federal Reserve’s preferred inflation gauge,…
US Manufacturing Expands Further in September; Shortages, Prices Rising: ISM
WASHINGTON—U.S. manufacturing activity picked up further in September, but factories experienced longer delays getting raw materials delivered and paid higher prices for inputs. The Institute for Supply Management (ISM) said on Friday its index of national factory activity increased to a reading of 61.1 last month from 59.9 in August. A reading above 50 indicates…
Poor Country Debt Could Worsen Due to Commodity Prices, Interest Rates: Malpass
September 30, 2021
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CAIRO—The debt situation for poor countries could worsen due to volatile commodity prices and higher interest rates, World Bank President David Malpass said on Thursday, urging countries to begin a gradual fiscal consolidation to maintain investor confidence. As of mid-2021, over half of the world’s poorest countries “are in external debt distress, or at risk…
Oil Prices Rise on Expected US Stocks Draw
September 22, 2021
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LONDON—Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC members struggle to raise output and by a general sense of energy…
US Senator Concerned American, JetBlue Partnership Will Raise Prices
September 18, 2021
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WASHINGTON—U.S. Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines and JetBlue Airways would lead to higher airfares. The airlines’ “Northeast Alliance” partnership was announced in July 2020 and approved by the Transportation Department six months later, shortly…
Analysis: ECB Sees a New Inflation ‘Hump’ as Prices Surge
FRANKFURT—A spike in euro zone inflation to above the European Central Bank’s target is a temporary “hump”, the ECB says—dusting off a metaphor used a decade ago by its then-president Jean-Claude Trichet. In 2011, the ECB hiked interest rates twice in four months, with Trichet yielding to German pressure despite believing that a commodity-fuelled rise…
Australian Home Prices Jump Record 6.7 Percent in Q2
SYDNEY—Prices for Australian residential properties in the major cities climbed a record 6.7 percent in the June quarter versus the previous quarter amid super-low borrowing costs and strong demand for work-at-home property. Data out on Tuesday from the Australian Bureau of Statistics showed gains across the country, led by an 8.2 percent jump in Canberra…
Gasoline Prices Hit 7-Year High Even as Demand Falls for 4th Straight Week
U.S. gasoline prices have risen to their highest level in seven years even as demand fell for a fourth straight week, with supply disruptions from Hurricane Ida putting upward pressure on prices and keeping seasonal factors from delivering relief at the pump to drivers frustrated by historically high fuel costs. Retail gasoline prices in the United…
China Announces First Public State Oil Auction
BEIJING—The Chinese regime plans its first public auction of state crude oil reserves to a select group of domestic refiners, the reserves administration announced, as Beijing looks to cool high raw material costs for manufacturers. The releases will take place in phases and are intended for integrated refining and chemical plants, the National Food and…
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