inflation

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Stock Rally Screeches to Halt
 Stock Rally Screeches to Halt 
MARKET Open
Mar 18, 2009 8:42 AM CDT

Stock Rally Screeches to Halt

(Newser) - Stocks took a turn for the worse at the open today, heading south after yesterday’s rally. The Dow fell 67 points, while the S&P declined 0.8%. The Nasdaq fell 0.5%, but component Sun Microsystems soared 65% on news IBM might acquire it. Investors are anxiously awaiting...

Economy Has 'Fallen Off a Cliff': Buffett

Billionaire investor sees recovery on far horizon, warns of inflation

(Newser) - Warren Buffett said today the US economy has “fallen off a cliff,” but guaranteed that 5 years from now “the machine will be running fine.” On CNBC, Buffett encouraged banks to “get back to banking,” saying they will have to earn their way out...

Consumer Prices Up 0.3% in January

But inflation over past 12 months lowest in a half-century

(Newser) - Consumer prices rose by 0.3% last month, the Labor Department said today, the biggest monthly increase since a 0.7% rise in July. Higher energy costs fueled the climb, and most economists and the government believe the recession will keep prices in check this year. That's because inflation has...

Mugabe Buys Secret $5.8M Hong Kong Getaway

Prez spends lavishly as Zimbabwean economy implodes

(Newser) - While his country battles massive inflation, unemployment and cholera, Zimbabwe President Robert Mugabe has secretly bought a $5.8 million residence in Hong Kong, the Times of London reports. His wife recently spent some $80,000 on Vietnamese statues and $12,500 on a bag. When she recently discussed a...

2008 Inflation Slowest in 50 Years on Oil Prices, Economy

Slow spending, sliding energy costs lead to 0.1% CPI increase last year

(Newser) - In 2008, consumer prices crept up at the slowest rate since 1954, climbing just 0.1% for the year and missing the Fed’s preference of 1.5% to 2% by a wide margin, the Wall Street Journal reports. Just months after inflation hit 17-year highs, a 75% drop in...

Fed Sees Recession Lingering Through '09

(Newser) - The Federal Reserve anticipates the recession will continue through 2009 despite its recent rate slash and other planned “nontraditional policies,” the Wall Street Journal reports. Minutes of the Fed's December 15-16 meeting, at which it cut rates to nearly zero, indicate a deep pessimism about the economy. Officials...

Youths Flee Struggling Iceland
 Youths Flee Struggling Iceland 
Dec 2, 2008 3:49 PM CST

Youths Flee Struggling Iceland

Ailing economy forcing mass exodus

(Newser) - Iceland faces its largest exodus in a century as job seekers flee the ailing nation, which is steeped in its worst financial crisis since independence. One survey estimates about half of Icelanders between 18 and 24 plan are thinking about leaving the country for Norway and other relatively strong economies....

Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nevertheless, US is 'navigating the mother of all financial storms'

(Newser) - The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I...

Spending Dive Sends GDP Down

Economists fear prolonged recession inevitable as numbers erode

(Newser) - The US economy shrank less than expected in the third quarter but still suffered the biggest contraction since the 2001 recession, reports Bloomberg. The gross domestic product fell 0.3%, led by the first fall off of consumer spending in two decades. The figure, out from the Commerce Department this...

Fed Weighs Emergency Rate Cut

As economy deteriorates, inflation becomes less of a concern

(Newser) - Mounting fears that the credit crisis and continually worsening economic data will push a stagnant US economy into a severe recession has spurred the Federal Reserve to consider cutting interest rates from their current 2%, the Wall Street Journal reports. Even if the House follows the Senate in passing the...

Zimbabwe Makes US Dollar Legal Tender

Inflation rate of 11M% makes local currency largely worthless

(Newser) - The government of Zimbabwe will allow consumers and shops to deal in American and South African currency as an 11 million percent inflation rate continues to pummel the nearly worthless Zimbabwean dollar. Cash remains in short supply in Zimbabwe, and on a flourishing black market a US dollar can fetch...

99 Cents Only Hikes Prices, But Only by 0.99 Cent

Discount chain follows 2 bum quarters with extra 99% of a penny

(Newser) - The store where nothing costs more than 99¢ has become the store where nothing costs more than 99.99¢, reports the LA Times. The top price at 99 Cents Only will go up by 99/100 of a penny this month, say executives at the discount chain, who blame inflationary pressures....

Wait on Rate Hikes Until Crisis Eases
Wait on Rate Hikes Until
Crisis Eases
OPINION
Sep 3, 2008 5:55 PM CDT

Wait on Rate Hikes Until Crisis Eases

Fed should ignore critics, hold its ground until markets rebound

(Newser) - Critics claim the Federal Reserve has been too eager to cut interest rates, and that lax policy has exacerbated inflation. But the Fed should hold its ground, Desmond Lachman argues in the American, until the housing and credit markets are clearly on the rebound. The credit crunch has prompted banks...

Lower Oil, Inflation Rally Stocks
 Lower Oil, Inflation Rally Stocks
MARKETS
Aug 22, 2008 3:36 PM CDT

Lower Oil, Inflation Rally Stocks

Fed chief soothes markets; Lehman may have a buyer

(Newser) - Stocks rallied today amid light trading but still saw weekly losses as oil prices fell and financials rebounded, helped in part by a speech by Ben Bernanke that eased inflation fears, MarketWatch reports. The Dow surged 197.85 to 11,628.06; the Nasdaq gained 34.33, closing at 2,...

Inflation Hurts US Workers; Europeans Keep Pace

But higher Europe wages drive up prices

(Newser) - Workers in the US are falling behind inflation while their counterparts in the 15-nation Eurozone are keeping pace, in part because of more powerful unions, the Wall Street Journal reports. But rising wages may damage the European economies, as they deter companies from hiring and in turn boost inflation. When...

Record Food Price Hikes Loom
 Record Food Price Hikes Loom
Aug 21, 2008 7:59 AM CDT

Record Food Price Hikes Loom

Biggest increases for 20 years forecast

(Newser) - Americans should get ready for pain at the supermarket checkout, reports Reuters—and squash any hopes of food prices getting better next year. A revised USDA forecast predicts a 5% to 6% leap in food prices this year—the biggest increase in 20 years—and USDA officials fear 2009 could...

Wholesale Prices Rising at Fastest Pace Since 1981

High energy, motor vehicle costs pushing inflation; Fed may be forced to boost rates

(Newser) - Wholesale prices jumped 1.2% in July—more than twice the rate economists expected and  the fastest pace in 27 years, according to government data released today, the AP reports. Core prices, which exclude food and energy, rose 0.7%, the biggest since November 2006; new home construction in July...

Consumer Prices Jump in July; Inflation at 17-Year High

(Newser) - US consumer prices shot up 0.8% in July, twice the expected rate, pushed higher by surging energy and food costs, the AP reports. The spike left inflation running at 5.6%, the fastest pace in 17 years, the Labor Department reported today. It marked the third straight month of...

Eurozone Sees First Slump; Germans Lead Decline

For the first time in a decade the vaunted union of 15 nations sees a collective dip

(Newser) - The eurozone economy contracted 0.2% in the second quarter, the first time the 15-nation union has seen negative growth since it was formed a decade ago, reports the Guardian. The group of countries that share the euro saw 0.7% growth in the first quarter but were hurt this...

Bank of England Pressed to Rein in Inflation

Food, energy prices soar, push inflation to highest rate in 16 years

(Newser) - Great Britain’s inflation rate—driven by energy and food prices rising at the fastest pace in more than 20 years—is on track to hit 5% by autumn, reports the Guardian. The cost of living jumped 0.6% to a 16-year high of 4.4% last month, the largest...

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