We Demand The Money, You Supply
Despite Lower Oil Prices, Little Relief for Consumers
"As oil prices surged this year, manufacturers raised the prices of a lot of products — not just gasoline but lotions, toothpaste, plastics and many more items that use oil as a raw material. But now that oil costs are plunging, other prices are not following them lower — not yet, anyway.
Even though oil prices have fallen closer to $100 a barrel, from $147 about two months ago, many companies that cited higher energy costs for increasing prices are resisting a rollback, saying they still need to recover money lost in the run-up."
"As oil prices surged this year, manufacturers raised the prices of a lot of products — not just gasoline but lotions, toothpaste, plastics and many more items that use oil as a raw material. But now that oil costs are plunging, other prices are not following them lower — not yet, anyway.
Even though oil prices have fallen closer to $100 a barrel, from $147 about two months ago, many companies that cited higher energy costs for increasing prices are resisting a rollback, saying they still need to recover money lost in the run-up."
posted by nolocontendere at 4:41 PM
2 Comments:
No shit. We were also told a decade ago that the wholesale movement of U.S. manufacturing industries to countries like China would result in lower priced goods and, therefore, lower inflation. This has been the worst decade for inflation since the 70s.
Been one goddamned lie after another, hasn't it? NAFTA was really going to be a tremendous wonderfulnous for us all. Bailing out the banks is a good thing. Libruls are only for tax 'n spend.
Sheesh.
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