Wall Street Journal: “Wild weather around the world wreaked havoc on markets for raw materials, lifting prices for everything from electricity and heat to houses and breakfast cereal.”
“Policy makers and investors have debated the effects of fiscal and monetary policy on inflation, but a big reason for rising prices this year have been factors that neither lawmakers nor central banks can do much about. Prices for natural gas, lumber, corn, soybeans, wheat and other building blocks of modern commerce surged to multiyear highs—in some cases records—because of fire, freezes, flood, drought, hurricanes and some of the hottest weather ever.”
Meanwhile, Reuters says a warm spell in Alaska has brought temperatures soaring past 60 degrees, while the San Francisco Chronicle notes 9 feet of snow has fallen in parts of California.
Save to Favorites