Economy
June 10, 2022
CRU Energy Prices: How Much More Pain Is To Come?
Written by Alex Tuckett
By CRU Principal Economist Alex Tuckett, from CRU’s Global Economic Outlook
Energy costs for consumers – in the form of utility bills and the cost of filling a car – have risen sharply, but not as sharply as the cost of crude oil and natural gas. But this doesn’t necessarily mean a lot more pain for consumers to come – unless there are further increases in wholesale prices. The manufacturing sector, on the other hand, has faced a fiercer rise in energy costs, and this will continue to feed through the supply chain for some time, keeping CPI inflation elevated.
