Archive for the ‘consumer goods’ Category

Fighting Inflation, China Freezes Energy Prices

January 9, 2008
January 9, 2008
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BEIJING — Prime Minister Wen Jiabao responded Wednesday to growing public anxiety about inflation by announcing that China would freeze energy prices in the near term, even as international crude oil futures have continued to surge.The new effort to fight rising prices comes with inflation hitting an 11-year high in China. A recent nationwide public opinion survey found that “rising prices of consumer goods” ranked as the top public concern, followed by income inequality and corruption.

The latest freezes, announced on the government’s main Web site, came after Mr. Wen presided over a Wednesday meeting of the State Council to revise policies on price controls.

Read the rest:
http://www.nytimes.com/2008/01/09/business/worldbusiness/09cnd-yuan.html

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Oil Prices and Your Budget: Crude Awakening

January 4, 2008

By Oliver North
January 4, 2008

WASHINGTON — The frozen water pipe this morning was a rude awakening. I managed to thaw the pipe without bursting it, thus saving the cost of a plumber. However, a few hours later, I opened our bill for home heating oil. At $2.70 per gallon, it was a blunt reminder that, with petroleum at $100 a barrel, the future cost of keeping fuel in our furnace — and gasoline in our cars — will make the plumber’s price pale in comparison.

According to the “experts,” those of us who drive to work will be paying $4 per gallon for motor fuel soon, and we all will be paying more for electricity, consumer products, air travel and to heat our homes. Happy New Year.

Read the rest:
 http://www.townhall.com/columnists/OliverNorth/2008/01/04/crude_awakening?page=full&comments=true