Tag: inflation

BUSINESS

Stock Market Sees Biggest Drop In Two Years

The S&P 500 fell 165.17 points to 3,923.68, while the Dow slid 1,164.52 points to 31,490.07. The Nasdaq slid 566.37 points to 11,418.15. The stock market took its biggest hit in nearly two years against the backdrop of Target and other major retailers reporting less than stellar performance. Target lost a quarter of its value after reporting earnings that fell […]

BUSINESS

U.K. Inflation Speeds Up At Fastest Rate In 40 Years

According to press reports, the U.K. is witnessing its fastest rise in prices in 40 years as higher energy bills take a stranglehold on millions of households. Inflation, the rate at which prices rise, leaped to nine percent in the 12 months to April, up from seven percent in March. Higher fuel and food prices, driven by the Ukraine war, […]

POLITICS

Biden Touts Inflation Plan

U.S. President Joe Biden said that his plan is set on lowering inflation to ease the financial burden that the American people have to contend with on a daily basis. “Beyond the Fed, my inflation plan is focused on lowering the costs that families face and lowering the federal deficit,” said Biden. He noted that his administration has already “announced […]

BUSINESS

U.S. Inflation Hits A 40-Year High

The U.S. inflation rate hit a new 40-year high in the year to March after fuel prices soared during the first full month of the Ukraine war. Consumer prices surged by 8.5 percent – the largest annual gain since December 1981 – following a double-digit rise in energy prices. According to the U.S. Labor Department, energy prices rose by 32 […]

BUSINESS

U.S. Inflation Rate Jumps To 7.9%

The U.S annual inflation rate jumped to 7.9 % and is expected to grow even higher amid Russia’s invasion of Ukraine. U.S. consumers have experienced rising costs for energy and food resulting in a squeeze on household incomes. U.S. President Joe Biden and central bank officials’ policies are being questioned and calls are being for the administration to change course. […]

BUSINESS

U.K. Consumers Wrestle With Price Inflation

U.K. consumers have seen price inflation surge to the highest level in three decades, heaping pressure on households already facing a massive increase in energy costs. According to the Office for National Statistics, inflation increased to 5.4% in December, the highest rate since 1992. Consumers have seen the highest price rises in transportation, food and beverages, furniture, housing, and household […]

BUSINESS

Turkey’s Annual Inflation Rate At An All-Time High

Turkey’s annual inflation rate has leaped to a 19-year high and is set to turn the country’s economic activities topsy turvy. Prices hit an unprecedented 36 percent high last month as the cost of transport, food, and other staples ransacked household budgets. Normally, one would expect the country’s central bank to raise interest rates to help cool inflation, but Turkey […]

NEWS

Turkey’s Annual Inflation Rate At An All Time High

Turkey’s annual inflation rate has soared to a 19-year high, underlining the country’s financial turmoil and alarm over its president’s policies. Prices hit more than 36 percent last month as the cost of transport, food, and other staples ate into household budgets. Most central banks raise interest rates to help cool inflation, but Turkey has gone the other way. It […]

Jamaica

IMF — Jamaica’s Inflation Rate To Hit 8.8 Percent

The International Monetary Fund (IMF) says it expects inflation in Jamaica to increase to 8.8 percent by the end of 2021. It has projected movement in prices to recede to 6.7 percent in 2022. However, according to press reports, the IMF said there are significant risks that could push inflation higher. The Washington-based financial institution said global inflationary pressures may […]

Jamaica

Jamaica — 2.3 Percent Inflation In September

According to JIS News, the Statistical Institute of Jamaica (STATIN) reports that the inflation rate for September 2021 was 2.3 percent. Director-General, Carol Coy, said that the out-turn was largely due to a 3.0 percent increase in food and non-alcoholic beverages, the heaviest weighted division in the consumer price index (CPI). “This is the largest increase recorded for this division […]