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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : Consumers told to br...ies ( RJR )...</span>
Consumer woes are about to increase, with mass hikes in the price of commodities on the international commodity markets. News emerged on Tuesday which suggest that consumers should start bracing for food, fuel and clothing hikes. Data showing the recession is reaching an end pushed the price of oil to two year highs on Tuesday stoking fears that fuel prices will start running up again.But price increases have not stopped there as coffee prices reached a 13 year high while sugar touched 29 year highs. The price of cocoa and orange juice also rose as did soybean prices, corn and wheat which all pointed to the likelihood that food prices will start increasing early in the new year. The increases are not only on food items however, as the price of clothes will also be going up.This is because cotton prices jumped to a record, for a second straight day on Tuesday, on speculation that global supplies will fail to keep pace with demand. It all adds up to a gloomy picture for consumers, one which says it will be harder for them to clothe and feed themselves.
<span style="font-weight: bold"> Confirmed : Consumers told to br...ies ( RJR )...</span>
Consumer woes are about to increase, with mass hikes in the price of commodities on the international commodity markets. News emerged on Tuesday which suggest that consumers should start bracing for food, fuel and clothing hikes. Data showing the recession is reaching an end pushed the price of oil to two year highs on Tuesday stoking fears that fuel prices will start running up again.But price increases have not stopped there as coffee prices reached a 13 year high while sugar touched 29 year highs. The price of cocoa and orange juice also rose as did soybean prices, corn and wheat which all pointed to the likelihood that food prices will start increasing early in the new year. The increases are not only on food items however, as the price of clothes will also be going up.This is because cotton prices jumped to a record, for a second straight day on Tuesday, on speculation that global supplies will fail to keep pace with demand. It all adds up to a gloomy picture for consumers, one which says it will be harder for them to clothe and feed themselves.