Consumer Prices Rose

Consumer prices in the U.S. and in most European countries rose in October, reflecting increases in fuel costs that threaten to boost inflation and slow growth.

Gasoline and heating-oil prices started rising in late October and have continued higher this month, here in Porugal the final consumer price at the petrol pump is now 5 cents more expensive suggesting fuel costs will remain a concern and will no doubt inflict on spending and investment.
The dollar traded at $1.4628 against the euro today at 6:43 a.m. in New York, rising from $1.4651 yesterday.

Crude oil futures on the New York Mercantile Exchange averaged $85.26 a barrel in October, up from $79.63 in September, and rose to a record $98.62 on Nov. 7.
The cost of fuel is prompting some businesses to increase prices. Airlines have raised fares seven times since Sept. 1, some carriers last week added a $10 round-trip fuel surcharge to ticket prices. Since fuel prices affect airlines across the board, consumers should expect prices to continue to increase.

Still, the impact of rising energy costs on other prices has so far been limited. Competition for business in a slowing economy is helping keep a lid on inflation.

But the bad news for the local market is the announcement that rice ,sugar petrol,wheat and other derivates will in some cases have a 50% INCREASE IN THE CONSUMER PRICE...