Price increases in the July-September quarter would come as the election campaign between Presidents Biden and Trump gets into full swing.
Prices rise 2.9 percent in December over the prior year, up from 2.4 percent in November yet well below the recent peak of 10.6 percent in October 2022.
Government spending, along with the willingness of India and China to buy Russia oil, is helping Russia’s economy perform better than many had expected.
Oil prices have fallen even after OPEC+ slashed 2 million barrels per day in October, angering President Biden by threatening higher gasoline prices a month before the midterm elections.
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
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