inflation – News Stories About inflation - Page 13

Surging Energy Prices Drive Global Inflation

Apr 10, 2008 12:00 PM CDT

Surging Energy Prices Drive Global Inflation

Food costs, up 83% in 3 years, also slap worldwide economies

(Newser) - Inflation in Europe and the US is projected to reach its highest point since 1995, the Wall Street Journal reports, with food prices up 83% in three years and rising energy and transportation costs. The International Monetary Fund predicts the US and Europe will see inflation of 2.6% this...

Bank of England
Cuts Interest Rate

Apr 10, 2008 7:35 AM CDT

Bank of England Cuts Interest Rate

Bank votes quarter-point cut to 5% as downward pressure mounts

(Newser) - The Bank of England today cut its benchmark interest rate 25 basis points to 5%, reports Bloomberg, hoping to keep the nation’s economy out of recession. Despite the third cut since December, BoE’s rate remains the highest among the Group of Seven industrialized nations; policymakers have drawn fire...

Asian Inflation Zapping US Pocketbooks

Apr 8, 2008 4:12 AM CDT

Asian Inflation Zapping US Pocketbooks

Fuel costs and weak buck promise to send US prices spiraling

(Newser) - Cheap Asian imports have helped keep American inflation down for decades—but those days appear to be over, the New York Times warns. Rapidly rising costs of fuel, food and labor in countries like China, Vietnam, and Taiwan are beginning to be passed on to their export markets, just as...

Personal Spending Slows
to a Crawl in February

Mar 28, 2008 11:37 AM CDT

Personal Spending Slows to a Crawl in February

Inflation cooling, but consumer confidence is down

(Newser) - Personal spending—a major force in the health of the economy— rose just 0.1% in February, its smallest increase in 16 months, the Wall Street Journal reports. The increase, which actually beat analysts' estimate of a 0.1% decrease, came despite a bump in personal income and signs that...

Japan's Inflation Surges

Mar 28, 2008 8:58 AM CDT

Japan's Inflation Surges

Unemployment also rises in world's second-largest economy

(Newser) - A double whammy of rising inflation and unemployment has experts worried that Japan’s economy—the world’s second largest—is fast losing steam, reports the Wall Street Journal. Inflation in February rose 1%, its fastest spike in a decade, and household spending stalled in the face of rising food...

Could the Credit Crunch Sink a Whole Country?

Mar 26, 2008 9:10 AM CDT

Could the Credit Crunch Sink a Whole Country?

Iceland frets about collapse as interest rates spike to 15%

(Newser) - The global credit crisis has spelled disaster for banks and hedge funds, but now worry is mounting that an entire country could go under. Yesterday the central bank of Iceland was forced to raise its interest rate 1.25 percentage points to 15% at an emergency meeting, reports the Financial ...

Oil Hovers
Near $102
a Barrel

Mar 26, 2008 6:16 AM CDT

Oil Hovers Near $102 a Barrel

Iraq fighting, low gas supplies and weak dollar boost price

(Newser) - Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew...

Rising Cost of Essentials
Slams Poor Families

Mar 21, 2008 1:35 PM CDT

Rising Cost of Essentials Slams Poor Families

Prices of "core" items are rising twice as fast as wages

(Newser) - The rising price of essentials and sluggish growth in wages mean that inflation is hitting low- to middle-income families hardest, the Washington Post reports. Americans are paying 9.2% more for staples—groceries, gas, health care, etc.— than they did in 2006, nearly twice the pace of the growth...

Wall Street Sneezes;
Heartland Catches Cold

Mar 21, 2008 11:36 AM CDT

Wall Street Sneezes; Heartland Catches Cold

Worries about a recession are hitting home with Americans

(Newser) - The high-profile economic woes plaguing Wall Street and previously hot housing markets are spreading, raising the possibility of the worst recession Americans have faced in years. The New York Times crisscrosses the country, assembling anecdotal evidence—suddenly thrifty brides, unsold construction equipment, sinking earnings at FedEx—that suggests the slowdown...

Fed Cut Raises Inflation Fears

Mar 19, 2008 10:27 AM CDT

Fed Cut Raises Inflation Fears

Borrowers, exporters stand to gain, but critics find move 'self-defeating'

(Newser) - The Federal Reserve's latest rate cut might boost the economy with cheaper credit, but economists worry a freed inflation genie could be behind any magic, the Washington Post reports. Commodity prices rose to record levels in expectation that the rate cut would keep demand high, and the price hikes are...

Housing Starts Down;
Producer Prices Up

Mar 18, 2008 11:55 AM CDT

Housing Starts Down; Producer Prices Up

Housing will hurt '08 growth

(Newser) - Housing starts fell yet again in February, and building permits hit a 16-year low, Bloomberg reports. The annual housing start rate fell to 1.065 million homes, a 0.6% drop from January, while permits sank 7.8%, indicating still bigger declines to come. “We don’t see it...

Fed 'Will Get on Top of This,' Says Bernanke Mentor

Mar 18, 2008 10:35 AM CDT

Fed 'Will Get on Top of This,' Says Bernanke Mentor

Scope 'far exceeds' that of previous crises

(Newser) - Ben Bernanke has the savvy to inject enough liquidity into the US economy to push it through the current credit crisis, says a leading economist who advised the Fed chief's MIT doctoral thesis. “The Fed will get on top of this,” said Stanley Fischer, ahead of this afternoon's...

Consumer Prices Flat in Feb.

Mar 14, 2008 8:41 AM CDT

Consumer Prices Flat in Feb.

Lack of increase means Fed has an open door to a big rate cute next week

(Newser) - Consumer prices were flat for February, pleasantly surprising economists who expected a 0.2% increase, reports the Wall Street Journal. This morning’s consumer price index eases concerns that inflation is accelerating as the economy slows, and it gives the Federal Reserve more reason to float a large interest rate...

Ruling Conservatives
Should Fare Well in Iran Vote

Mar 13, 2008 6:12 PM CDT

Ruling Conservatives Should Fare Well in Iran Vote

Conservatives likely to gain in parliament as many reform candidates barred

(Newser) - Iranian conservatives are likely to gain seats in tomorrow's parliamentary elections despite Mahmoud Ahmadinejad's growing unpopularity, Al Jazeera reports. Iranians may disapprove of the president's economic policies, but the ruling Guardians Council barred 1,700 candidates—mainly reformists—from seeking election to the 290-seat parliament. Government officials and state-run media...

Gold Hits Record $1K per Ounce

Mar 13, 2008 1:03 PM CDT

Gold Hits Record $1K per Ounce

Slumping US economy, dollar sends investors to shiny commodity

(Newser) - Gold hit $1,000 per ounce for the first time today, the BBC reports, as investors flock to commodities. The precious metal is already up 20% on the year. “Every bit of bad US economic data boosts gold in two ways,” said Fortis Bank, both because gold is...

$4 Gas Expected This Spring

Mar 12, 2008 4:40 AM CDT

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

(Newser) - Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and...

Oil Flirts With Record-High $104

Mar 3, 2008 11:45 AM CST

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

(Newser) - As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record of...

Consumer Spending Stalls Again

Feb 29, 2008 12:03 PM CST

Consumer Spending Stalls Again

Confidence is falling as inflation rises

(Newser) - Consumer spending rose more than expected in January—but only because prices did so as well, Bloomberg reports. Adjusted for inflation, spending remained flat for the second straight month. With fuel costs rising, banks restricting loans, and property values falling, “consumers are clearly hard-pressed to maintain their standard of...

Stocks Tumble on Weak Data

MARKETS

Feb 28, 2008 3:56 PM CST

Stocks Tumble on Weak Data

Dow drops 112 points on sluggish growth, rising jobless claims

(Newser) - Stocks fell more than they had in a week today amid reports of sluggish economic growth, rising jobless claims, and fears of failing banks, Bloomberg reports. The Dow fell 112.10 points to 12,582.18, the Nasdaq fell 22.21 points to 2,331.57, and the S&P...

Bernanke Signals New Rate Cuts

Feb 27, 2008 9:15 AM CST

Bernanke Signals New Rate Cuts

Says central bank 'will act as needed' to further minimize economic risks

(Newser) - Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected...