Increasing demand has combined with temporary disruptions of supply and OPEC's renewed effort to assert greater control over world oil supplies. The result: Consumer prices for oil-based products have moved sharply higher. Food prices also rose at a robust pace recently. That surge is largely in response to curtailed supplies after last summer's drought.
On This PageJuly 1989, No. 23
Curde oil prices are up about 50% since late last year.
Fuel and Food: the Good, Bad and the Long-run
Last Updated: 07/31/89