Wednesday, December 4, 2024

December Inflation Rate Finally Tops 2%

From InflationData.com For quite some time, I’ve been saying, that “annual inflation throughout 2016 would remain well below the official FED target of 2% but we are getting closer and it is possible that December could tip the scale above 2%.”  And that is exactly what happened… annual inflation finished the year at 2.07%! The Bureau of Labor Statistics (BLS) released the

U.S. Drilling Recovery Weighs on OPEC-led Cuts

From Reuters Oil prices fell about 1 percent during the day on Monday as signs of a strong recovery in U.S. drilling overshadowed news that OPEC and non-OPEC producers were on track to meet output reduction goals. Ministers representing members of the Organization of the Petroleum Exporting Countries and non-OPEC producers said at a meeting in Vienna on Sunday that