Fed: Lofty Energy Prices Nag Businesses

WASHINGTON – Rising energy costs are nagging businesses and increasing their desire to pass them along to customers, although competitive forces are blunting their ability to do so, a Federal+Reserve survey suggested Wednesday.

Some regions including Cleveland, Richmond and Dallas, cited high energy prices as the culprit behind weaker than expected tourism, auto sales or retail sales

It said this had the effect of “constraining consumers’ driving and, indirectly, by reducing the income available for purchases after paying for home fuel and transportation fuel.”

AP