Cost of living likely to ease just before year end

2008-08-18 09:23:22
By Perege Gumbo

A slew of ongoing global and domestic economic events are most certainly set to rekindle an optimism that the cost of living, now harshly stinging, will ease before end of this year.

It will be a reversal of what has been happening over the last three years of skyrocketing oil and food crises, to the extent of forcing consumers to radically change their spending patterns, while investors have come to re-adjust their production schedules to accommodate rising costs.

However, reading signs at the world commodity markets, oil prices which had increased to the tune of USD147.27 a barrel in July declined to USD112.72 by the end of last week.

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[SOURCE: THE GUARDIAN]