May 24, 2004

Inflation Report

There's a report out this morning that predicts that the inflation rate in the United States will be higher than originally reported.
"Rising prices of energy and other industrial commodities are contributing to the higher inflation, but so too is robust growth," said the group's president, Duncan Meldrum, chief economist at Air Products and Chemicals Inc.
I believe that the rapid increase of energy cost (Oil) is the main factor in the inflation rate. This weekend I saw that the price for gas at the pump at Meeting House Pond in Orleans cost $2.99 a gallon. This high gas price not only effect the weekend boater, but also the day to day New England Fisherman.

George W. Bush will be on the air tonight addressing the American Public in a prime time speech, not on the sudden fuel surcharge, but on the situation in Iraq.

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