Recent Updates
- Mexico: Manufacturing Employment (Mar)
- Latvia: Labor Force Statistics (Apr)
- UK: CBI Industrial Trends Survey (May)
- Albania: HICP (Apr)
- South Africa: Wholesale Sales, Export & Import Indexes (Mar)
- more updates...
Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller January 8, 2008
The retail price of gasoline rose a nickel last weeks to $3.11 per gallon following a seven cent rise during the prior week.
The increase returned prices to the highest level in nearly two months.-
During that opening week of 2008, crude oil prices jumped sharply to $98.17 for a barrel WTI crude. The increase reversed yesterday, however, with forecasts that unseasonably warm temperatures in the Northeast U.S. would continue. Crude prices fell to $95.10 per barrel.
Natural gas prices also fell yesterday, but sharp gains in December raised the wholesale price to an average $7.67 per mmbtu. Prices were up by roughly one quarter from the very warm December of 2006.
What's Driving Gasoline Prices from the Federal Reserve Bank of Dallas can be found here.
| Energy Prices | 01/07/08 | 12/31/07 | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Retail Gasoline ($/Gallon) | 3.11 | 3.06 | 34.8% | 2.80 | 2.57 | 2.27 |
