COPY-Katrina economic effect likely to top 100 billion dollars, possibly more - KLTV.com - Tyler, Longview, Jacksonville |ETX News

COPY-Katrina economic effect likely to top 100 billion dollars, possibly more

WASHINGTON Even a cup of java may cost more because of Hurricane Katrina.

One economist says American consumers are likely to pay more for lumber, coffee, chocolate, perhaps sugar. That's because the Gulf Coast region is home to vital international shipping and transportation links.

Mark Zandi says anything that moves through the ports in the affected region will face higher prices.

Experts are now forecasting the economic hit from the storm is likely to top 100 (b) billion dollars, and could go much higher.

The storm's impact is already being felt nationwide because the Gulf Coast region is an essential hub for oil and gas related industries.

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