Inflation
UK economy ‘only going to get worse’ as growth slowdown begins
The U.K. economy shrank by 0.1% in March and the situation is expected to worsen as the country’s cost-of-living crisis escalates. Tim Ireland | Xinhua News Agency | Getty Images LONDON — A growth slowdown is underway in the U.K. after the economy shrank by 0.1% in March, with economists expecting further contractions this year. […]
Read More
Inflation hasn’t affected travel activity in Europe that much, says Indian hospitality firm
Mandar Vaidya of Oyo says that’s probably because of pent-up demand. Source
Read More
How fast does inflation cut buying power? Here’s a simple guide
Luis Alvarez | Digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the U.S. Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
Read More
Home rental prices see slowdown as airfare and lodging costs rise
CNBC’s Seema Mody reports on how inflation is affecting domestic and international travel. Source
Read More
Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs
Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday. The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an […]
Read More
ECB’s Lagarde cements expectations for upcoming rate hike
Lagarde has joined a growing number of ECB policymakers calling for a July rate hike. Picture Alliance | Picture Alliance | Getty Images The European Central Bank is likely to end its bond-buying stimulus programme early in the third quarter of this year, followed by a rate hike that could come just “a few weeks” […]
Read More
China’s consumer prices hit a six-month high as Covid prompts locals to stock up on food
Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in […]
Read More
Goldman strategist: This sector has been ‘unduly’ punished and could be a buy right now
Sharon Bell, a senior strategist at Goldman Sachs, has shared her favorite sectors after this week’s market madness. Source
Read More
Biden says White House could drop Trump China tariffs to lower consumer prices
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the U.S. — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
Read More
Fed’s Waller promises to tackle inflation, says mistakes of the ’70s won’t be repeated
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller pledged Tuesday that the rate-setting group wouldn’t make the same mistakes on inflation […]
Read More