Nightly Business Report (PBS) - 2005-09-09
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Read a transcript preview of “Nightly Business Report (PBS) - 2005-09-09” from malgent, uploaded on 2026-01-07.
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Language: English (original, YouTube automatic captions)
[0:00] Thank you.
[0:03] [music]
[0:07] [music]
[0:08] >> Good evening, everyone. Is higher
[0:10] inflation around the corner because of
[0:12] Hurricane Katrina? Even though wholesale
[0:14] gasoline prices fell below $2 a gallon
[0:16] today for the first time since the storm
[0:18] slammed into the Gulf Coast, prices at
[0:21] the pump have not come down nearly as
[0:23] fast. Now, that's driving costs up for
[0:25] many American businesses. And if they
[0:27] raise prices, that could drive up
[0:29] inflation. Erikica Miller reports.
[0:32] >> It's no secret that gasoline prices have
[0:34] soared as a result of Hurricane Katrina.
[0:36] But don't be surprised if your grocery
[0:38] bill also goes up due to supply
[0:40] disruptions and higher transportation
[0:42] costs.
[0:43] >> Many companies are being pressured by
[0:45] high energy prices and are tempted to
[0:46] pass along these price increased. And
[0:49] the economy is getting to the point
[0:50] where it's strong enough where
[0:52] executives are going to find that they
[0:54] can pass these cost increases on.
[0:56] >> The prices for coffee, bananas, chicken,
[0:58] and oysters have already risen as a
[1:00] result of the hurricane. And experts say
[1:02] corn and grain could be next. Katrina
[1:05] wall up the Louisiana seap ports and
[1:07] closed off parts of the Mississippi
[1:08] River. That leaves many farmers with no
[1:10] easy access to global markets. With less
[1:13] than a month before the start of the
[1:14] corn harvest, it may also cost you more
[1:17] to fix up your home or buy a new one as
[1:19] a result of Katrina. Lumber prices have
[1:22] also been rising in anticipation of a
[1:24] massive rebuilding effort in the Gulf
[1:26] Coast states. But it's too early for
[1:28] Katrina's im