Tag Archives: Inflation

A British think tank has warned that nearly 1.6 million British households are yet to encounter a 2,300 pound ($2,903) payment surge following the mortgage rate increase amid the UK’s persisting housing crisis. According to the Resolution Foundation’s report, which focuses on living standards, only about half of the 7.5 …

US consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated, adding to financial market fears that the Federal Reserve could continue raising interest rates through summer. The report from the Commerce Department on Friday was the latest indication …

An “ever-increasing” number of households in the UK, including teachers, pensioners, and employees of the NHS, are turning to food banks for assistance as a result of the cost of living issue and the country’s high inflation, according to new statistics. The research conducted by the Independent Food Aid Network …

Price growth nevertheless remains close to a 40-year high, official data shows British inflation fell by more than expected last month, to 10.1% annually, which is the lowest reading since September, the Office for National Statistics (ONS) reported on Wednesday. Data showed that the decline in the consumer price index …

Leading indices have sold off on high inflation, geopolitical tensions, and tightening monetary policy Major European stock indices struggled in 2022, with most showing their worst performance since before the Covid-19 pandemic, CNBC reported on Friday. The pan-European Stoxx 600 index began the last trading day of the year down …

Soaring energy, food, and transport prices drove Britain’s inflation to a new high in October, jumping to a 41-year high of 11.1 percent, squeezing households and businesses amid a warning of recession in major economies by the world trade body. The Office for National Statistics in a report on Wednesday …

The eurozone economy came to a near-standstill in the third quarter as inflation surged above all expectations to top 10 percent for the first time, preliminary Eurostat data showed on Monday. The toxic combination of weak growth and surging prices points to dark winter months ahead. Inflation surged to 10.7 …

U.S. consumer prices increased more than expected in September as rents surged by the most since 1990 and the cost of food also rose, reinforcing expectations the Federal Reserve will deliver a fourth 75-basis-point interest rate hike next month. The report from the Labor Department on Thursday also showed a …

U.S. consumer prices unexpectedly rose in August and underlying inflation picked up amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The surprisingly firm inflation readings reported by the Labor Department on Tuesday followed in …

A British think tank has warned that over three million more Britons will fall into absolute poverty by the end of 2024 unless the new government acts quickly. Resolution Foundation, in its latest report, projected households will see their spending power cut by an average of £3,000 by the end …

Soaring inflation across the UK has caused “acute distress” to Britons, Finance Minister Rishi Sunak has said, stressing that the Bank of England must take “decisive action” to get prices back under control. Addressing the House of Commons on Thursday, Sunak was at pains to say that “the high inflation …

Russian President Vladimir Putin said Thursday that Western countries were worse hit by sanctions imposed on Moscow over Ukraine than Russia, which he insists has been resilient in the face of “external challenges.” Western countries have slapped Russia with a barrage of unprecedented sanctions after Putin sent troops into neighboring …

With most Americans focused on economic woes at home, a majority told the survey they were fine with Ukraine losing to Moscow

Ukraine war takes toll on economy of European countries using the euro as inflation reaches record levels and output weakens. Inflation in the eurozone hit a new record this month while growth slowed during the first quarter of the year, according to official data, as the war in Ukraine takes …

Amid reports that consumer confidence is touching an all-time low in the UK, the French finance minister has predicted “a new era of higher inflation” for France and partner countries. Bruno Le Maire was quoted as saying by BFM TV on Friday that inflation will be high in 2022 in …

Inflation hit a fresh 40-year record in March as U.S. consumer prices rose 8.5% from a year ago, the Labor Department said on Tuesday. The Consumer Price Index, which tracks a basket of goods and services, jumped 1.2% in March after increasing 0.8% in February, showing that inflation gained speed …

President Tayyip Erdogan said he had lowered Turkey’s inflation to around 4% before and that he will achieve that again soon as annual price rises exceeded 21% due to his push for aggressive monetary easing that has sent the lira crashing. Erdogan has said the new policy based on low-interest …

The US annual inflation has hit a 30-year high amid the coronavirus pandemic as well as the glitch in the country’s supply chain. According to the latest statistics, the consumer price index (CPI) rose 6.2 percent in the US federal government’s fiscal year, which runs from Oct. 1 to Sept. …

Turkey’s consumer price inflation fell to a lower-than-expected 11.76% year-on-year in July, official data showed on Tuesday, reversing two months of rising inflation as the economy continued to emerge from lockdown. The figures boosted the lira TRYTOM=D3, which firmed to 6.9270 against the dollar. The currency weakened last week to …