Tag Archives: inflation

EU Inflation Topped 10% For August Versus Last Year

Courthouse News reports: Inflation in the 19-nation eurozone rose to 9.1% in August, up 7.1% from just a year earlier, according to data released Friday by Eurostat, the EU’s statistics agency. It remains 1% lower than the 10.1% inflation rate across the broader 27-member EU, which recorded a rate of just 3.2% in August 2021. The latest EU rate broke …

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UK Pound Slides To Lowest Level Vs USD Since 1985

The Wall Street Journal reports: The British pound slid to its lowest level against the U.S. dollar since 1985, a reflection of the U.K.’s dire economic situation. Investors are braced for sterling to weaken even further to a nadir not seen in more than two centuries of trading across the Atlantic. The pound fell 0.3% in early Monday trading in …

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EU Saw Record 8.9% Year-On-Year Inflation Rate In July

Reuter reports: Euro zone inflation reached a new record high of 8.9% year-on-year in July, the EU’s statistics office confirmed on Thursday, with the core measure, excluding the most volatile components and key for monetary policy, also sharply up. The European Union’s statistics office Eurostat said consumer prices in the 19 countries using the euro rose in July for a …

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Exxon And Chevron Report Record Quarterly Profits

The New York Times reports: Exxon reported income of $17.9 billion for the three months through June, more than three times what it earned a year ago. Revenue at the energy giant jumped to $115.6 billion, from $67.7 billion a year ago. Chevron’s performance was similar, with profit more than tripling to $11.6 billion as sales rose to $65 billion, …

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Federal Reserve Hikes Interest Rates To Cool Inflation

The New York Times reports: The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday, continuing its aggressive campaign to cool rapid inflation even as the economy begins to slow. Central bankers voted unanimously to make the unusually large interest rate move, and the policy-setting Federal Open Market Committee signaled in its post-meeting statement that more …

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Inflation Report: June Prices Up 9.1% Over Last Year

CNBC reports: Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday. The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of …

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Labor Dept: March Prices Rose 8.5% Over Last Year

The Washington Post reports: Prices rose 8.5 percent in March compared with a year ago, the largest annual increase in four decades, as Russia’s war in Ukraine drove up energy prices even higher and policymakers launched a major effort to get soaring inflation under control. The inflation data, released Tuesday by the Bureau of Labor Statistics, showed prices rose 1.2 …

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Rising Prices Upend NYC’s “Pizza-Subway Principle”

Bloomberg News reports: The “pizza principle,” a mainstay of New York economics for more than four decades, states that a slice of cheese pizza will always be the same price as a subway ride. The rule has largely held true since first conjectured in the New York Times in 1980, with any increase in pizza prices tending to predict a …

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Labor Dept: February Prices Up 7.9% Over Last Year

The Washington Post reports: Prices rose 7.9 percent in February compared with a year ago, the largest annual increase in 40 years, even as fears grow that Russia’s war on Ukraine will push energy prices even higher in the months to come. The inflation data, released Thursday by the Bureau of Labor Statistics, showed prices rose 0.8 percent in February …

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Labor Dept: Consumer Prices Up 6.8% Over Nov 2020

NBC News reports: Consumer prices rose by 6.8 percent in November over the previous year, the highest annual inflation rate since June 1982, according to the latest Consumer Price Index data from the Bureau of Labor Statistics, released Friday. The figure exceeds the 6.2 percent year-over-year figure from October. Volatile energy prices, supply chain snarls, high consumer demand, and loose …

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Labor Dept Reports Highest Inflation Rate Since 1990

The New York Times reports: Consumer inflation surged in October as fuel costs picked up, supply chains remained under pressure and rents moved higher — bad news for economic policymakers at the Federal Reserve and for the Biden White House, which had been emphasizing a recent slowdown in price gains. Inflation picked up to 0.9 percent last month from September, …

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Inflation Exceeds Forecast As Healthcare Costs Rise

Bloomberg reports: A measure of underlying U.S. inflation accelerated by more than forecast to a one-year high in August, signaling inflation was already firming ahead of fresh tariffs on Chinese goods this month that may push prices higher for Americans. The core consumer price index, which excludes food and energy, rose 0.3% from the prior month and was up 2.4% …

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Inflation Rise Triggers More Wall Street Jitters

The Washington Post reports: The Consumer Price Index, which measures how quickly prices are going up in the U.S. economy, rose at a faster than anticipated 2.1 percent in January compared to a year ago, triggering fears of another rocky run on Wall Street. The monthly Labor Department report on the price of everything from gas to groceries was closely …

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