Using the price data for the first four months of each year, the analysis shows that chemical products (excluding pharmaceuticals) were 5.3% more expensive in the first four months of 2008 than the same period of 2007. The price index pointed to a significant price increase in both basic inorganics and petrochemicals. Polymers experienced a price change of 3.3%. However, prices of specialties and consumer chemicals registered a modest increase (less than 2%). Chemicals producer prices are on an upward trend in April 2008 compared to April of last year. The beginning of 2008 producer prices reflected the high oil price which continued its rise in 2008 (Data source: Eurostat). According to the opinions of analysts and the latest Consensus Forecast (June 2008), the mix of geopolitical tensions in the Middle East, the robust Asian demand and investment traders in the commodities markets has swelled oil prices to untenable levels for many energy-importing economies. (Refer the slides below for more details)