Inflation in the United Kingdom unexpectedly rose in February as household expenses for food and energy continued to rise. The annual increase in the consumer price index (CPI) was 10.4%, higher than the 9.9% predicted by economists in a Refinitiv poll and up from 10.1% in January. CPI inflation exceeded expectations of 0.6% on a […]
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As the economy continued to show signs of weakening, price growth in the United States slowed down in December. In comparison to the previous year, inflation reached 6.5%. That figure was lower than the 7.1% seen in November, but it was in line with analysts’ expectations. In December, inflation fell by 0.1% month over month, […]
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Bank of Canada governor Tiff Machlem, said that inflation in Canada remains too strong, and higher interest rates will be needed to tackle growing economy. Tiff Macklem added that inflation has decreased in recent months, but they have yet to see a generalized drop in price pressures. This hard phase will draw to a close, […]
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According to the latest figures, Food Prices in the United Kingdom are increasing at their fastest rate in 45 years, with the cost of basics such as eggs, cheese, and milk increasing. Food price inflation has hit 16.2 percent in the year to October 2022, up from 14.5 percent in September 2022. The increasing cost […]
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According to several economists, the United States is facing fears as the Federal Reserve remains bullish in tackling high inflation, and US officials increasingly talk about the need to impose new strategies and plans to get price pressures under control. Edward Moya, a senior market at foreign exchange firm OANDA, said there is still a […]
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The Bank of England (BOE) announced that it will launch a temporary government bond-buying program to prevent material risk to financial stability after unfunded government tax cuts affected the markets and sent the pound tumbling. The emergency intervention means the central bank of the country will purchase government bonds in an effort to stabilize the […]
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Disruption to global supply chains and the effects of the war between Ukraine and Russia are combining to push prices of commodities, energy, and basic items higher across the world. In the United Kingdom, inflation reached 9.4 percent in June 2022, the highest level. This is what some of the biggest economies in the world […]
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Walmart is laying off over 200 corporate workers amid increasing concerns over inflation and sagging customer spending. Walmart confirmed to the Journal that roles will be cut as a part of corporate restructuring, and additional roles will be created anywhere else. Anne Hatfield, a spokesperson for Walmart, said the company is still hiring in parts […]
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The Bank of England (BOE) raised interest rates since 1995. BOE also predicted that the economy of UK will fall into recession later 2022, highlighting urgency of global central banks to fight against inflation. The rate increase to 1.75 percent from 1.25 percent was the highest hike since 1995, and the first half-point increase since […]
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Inflation in the European countries using the euro currency shot to another record in July 2022, which is pushed by higher energy prices, but the economy has managed better growth in the second quarter of 2022. The annual inflation in the 19 countries of eurozone increased to 8.9 percent in July 2022, which is an […]
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