Inflation
Sri Lankan president tries to preempt protests with nationwide curfew
“I don’t know why a curfew has been declared. What we need now is not a curfew, we need food, gas, fuel and the freedom to express ourselves,” said one protest organizer in Colombo, Sri Lanka. Ishara S. Kodikara | Afp | Getty Images Sri Lanka imposed a countrywide curfew starting Saturday evening until Monday […]
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Sri Lanka’s president declares emergency as police clash with angry protesters
Protestors in Colombo on April 1, 2022. Inflation has wracked Sri Lanka, rising to 17.5% in February from 16.8% a month earlier, according to the country’s central bank. Ishara S. Kodikara | AFP | Getty Images Sri Lanka’s president declared a state of emergency in the island nation Friday, a day after angry protesters demonstrated […]
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Euro zone inflation hits another record high of 7.5% as Russia-Ukraine war pushes up energy prices
Christine Lagarde, President of the European Central Bank. Daniel Roland | Afp | Getty Images The cost of living hit another record high in the euro zone last month, raising further questions about how the European Central Bank can stabilize such rapidly rising consumer prices. Headline inflation came in at 7.5% for March on an […]
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Millions of Brits plunged into fuel poverty on Friday as household energy bills surge
A protester holds a ‘Save Us From The Energy Crisis’ placard during a rally in London. British households face soaring energy bills from April 1 as the country’s energy price cap rises by 54%. Vuk Valcic | Sopa Images | Lightrocket | Getty Images The number of English households in fuel poverty will double to […]
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Restaurants are getting creative with menus to counter soaring food costs
Long Beach Fish Grill’s menu board Source: Jessica Dinglasan Jessica Dinglasan, owner of Long Beach Fish Grill in Long Beach, California, never used to write “market price” on her menu. But now the halibut fish she sources costs more than $30 a pound, nearly double what it was a year ago, and the 13-gallon container […]
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There are signs a recession could be on the way. Here are some ways to protect your savings
An inversion in Treasury yields has stoked investor concerns that a recession might be on the horizon, but strategists say there are steps you can take now to protect your savings. Morsa Images | E+ | Getty Images With a historical indicator of recessions flashing red this week, financial experts have shared their top tips […]
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Booking Holdings CEO says higher prices haven’t dented summer travel demand yet
A sharp uptick in inflation has so far not caused a slowdown in demand for travel in the spring and summer months, Booking Holdings CEO Glenn Fogel told CNBC on Thursday. “Not yet. Not yet,” said Fogel, whose company offers online travel services, including flight booking. He cited the Covid pandemic’s disruptions to travel routines. “When you […]
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U.S. to release 1 million barrels of oil per day from reserves to help cut gas prices
U.S. President Joe Biden announces new actions against Russia for its war in Ukraine, during remarks in the Roosevelt Room at the White House in Washington, U.S., March 8, 2022. Kevin Lemarque | Reuters The U.S. will release 1 million barrels of oil per day from its strategic reserves to help cut gas prices and […]
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The Fed’s preferred inflation gauge rose 5.4% in March, the highest since 1983
The Federal Reserve’s favorite inflation measure showed intensifying price pressures in February, rising to its highest annual level since 1983, the Commerce Department reported Thursday. Excluding food and energy prices, the personal consumption expenditures price index increased 5.4% from the same period in 2021, the biggest jump going back to April 1983. Including gas and […]
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Everyone is worried about gas prices, but diesel is driving inflation more than you think
The prices for gas and diesel fuel, over $6.00 a gallon, are displayed at a petrol station in Los Angeles, March 2, 2022. Frederic J. Brown | AFP | Getty Images Even before Russia invaded Ukraine, the fuel that runs the global economy was in short supply. Now some analysts say there could be spot […]
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