Germany has fallen into recession after a high inflation rate took a bigger toll on the country’s economy than originally estimated. Output in Europe’s largest economy dropped 0.3% in the first three months of the year, following a 0.5% contraction at the end of 2022, official data showed on …
Read More »Americans’ Inflation Pain Hits a New High
Regardless of a slowdown in the rise of inflation, Americans report that higher prices are causing financial hardship, a new poll indicates. Gallup released the poll data Thursday, which found that 61% of those surveyed say price hikes have caused financial hardship, up from 49% in January of last year. …
Read More »Inflation Still Too High? Let Them Eat EVs
By Patrice Onwuka for RealClearEnergy Inflation rose 5% last month compared with one year prior, according to the latest consumer price index. That is the lowest level of price increases since May 2021, though it’s still not down to pre-Biden and pre-pandemic levels. Inflation’s easing may provide some relief, but it …
Read More »Nigeria?s Inflation rate hits 22.04% for March 2023
Nigeria’s inflation rate has increased by 0.13% points compared to February 2023’s inflation rate. This is according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Saturday, April 15, 2023. The consumer price index measures the rate of change in prices of goods and services. …
Read More »U.K. Inflation Swings Upward, in a U-Turn
Britain’s inflation rate unexpectedly rose last month, reversing its recent downward trend and potentially undermining expectations that the Bank of England was close to halting interest rate increases. Consumer prices in Britain rose 10.4 percent in February compared with a year earlier, the Office for National Statistics said on Wednesday. …
Read More »Biden Takes Fire After Inflation Increases Again
By Casey Harper (The Center Square) The latest federal inflation data shows consumer prices rose again in February, sparking criticism of President Joe Biden and his spending agenda. The U.S. Bureau of Labor Statistics released the Consumer Price Index Tuesday, which showed consumer prices rose 0.4% in February, totaling up a 6% …
Read More »Spain announces $10bn aid package in bid to ease inflation pain
Measures come as Madrid grapples with a cost-of-living crisis exacerbated by the economic fallout from the Ukraine war. Spain has announced 10 billion euros ($10.65bn) worth of measures to ease the pain of inflation in the third major package this year, bringing total aid to 45 billion euros ($48bn) since …
Read More »Japan’s consumer inflation hits fresh 40-year high | CNN Business
Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus. Months before Tuesday’s surprise tweak to its yield control policy, …
Read More »Bank of England poised to raise borrowing costs to combat inflation
The Bank of England is poised to increase the cost of borrowing for households and businesses at its interest meeting today, as fears mount that the UK economy is about to enter a long recession. Financial markets expect a 0.5 percentage point increase in the central bank’s base rate to …
Read More »Ghana inflation soared to 21-year high above 50% in November
Consumer inflation rise comes as the gold, oil and cocoa producer battles its worst economic crisis in a generation. Ghana’s annual consumer inflation has accelerated to a new 21-year high of 50.3 percent in November, up from 40.4 percent the previous month, driven by utilities, food and fuel. This is …
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