Overall too, automobile demand in India has been hit by increasing fuel prices and high borrowing costs.
The high estimate may be explained by the increasing prices collectors are paying for major works.
Argentina suffers a high inflation rate - private economists say prices are increasing by about 24% a year.
Given the many economic headwinds facing the U.S. economy (high unemployment, low consumer spending, increasing commodity prices and the fear of tightening credit given the ongoing sovereign debt crisis in Europe to name a few) prospects for increased corporate earnings stemming from increased sales seem difficult.
Nearly half (48%) of those asked said they did not buy as much food and 45% bought less high quality food than last year because of increasing food prices.
It could give Silicon Valley a chance to address the problems that threaten its long-term ability to remain the world capital of high-tech: an overburdened infrastructure, skyrocketing house prices and increasing social inequality.
My fear is that they will misinterpret the evidence and attribute high unemployment and the initial decline in prices to tight money, while increasing taxes to combat budget deficits.
WSJ: Arthur B. Laffer: Taxes, Depression, and Our Current Troubles
Furthermore, Adamo says that sustained high prices for crude will make land-based exploration economically viable again, increasing the prospects for Dawson's growth.
These headwinds include a stubbornly high unemployment rate, a disturbing trend of increasing jobless claims, elevated commodity prices, a lackluster residential real estate and increasing sovereign debt problems overseas and, as previously discussed, on our homeland.
FORBES: Forget About The Debt Ceiling Debate, Where's The Economic Growth?
British Airways is increasing its fuel surcharge on long-haul flights because of high oil prices.
Apple's problems in increasing its market share are, to a large extent, a result of the high prices it charges for its computers compared with similar products from the likes of Dell or Hewlett-Packard.
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