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By Staff Reporters
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Coal is making a comeback as Europe races to find alternatives to Russian natural gas. The price of coal is 5 times higher than normal as countries try to secure energy supply for winter. Surging natural gas prices and a hydro-power crunch are other factors, too.
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Gasoline prices fell sharply in August, airfares dropped and used cars and hotels ebbed, while rent increases also gave hints of slowing, according to private firms that track such data.
Still, food prices continued to soar this past month and prices for a range of goods and services remained much higher than a year earlier, the figures show.
The path of inflation could influence looming decisions by the Federal Reserve about how high to lift interest rates. Inflation could also shape midterm elections as voters assess their pocketbooks.
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Filed under: Investing, Alternative Investments, Alerts Sign-Up | Tagged: inflation, gas, coal, coal price, coal prices, food |
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