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Inflation News

IMF dismisses inflation concerns of Biden stimulus plan

Washington - Fears that inflation could spiral out of control due to a massive US stimulus package are overblown, IMF chief economist Gita Gopinath said Friday.Her argument contradicted critics of US President Joe Biden's proposed $1.

China consumer prices drop for first time in over a decade

Bejing - China's consumer prices dropped more than expected in November on falling food costs, with a key gauge turning negative for the first time in 11 years due to pork prices, according to official data released Wednesday.

ECB to beef up stimulus as second virus wave bites

Frankfurt Am Main - The European Central Bank is set to unleash more stimulus for the eurozone at its last meeting of the year on Thursday, as the region's battered economy grapples with a second coronavirus wave.

ECB shouldn't be 'shy' in virus fightback: board member

Frankfurt Am Main - The European Central Bank shouldn't worry about being too proactive in its monetary policies to combat the economic impact of the coronavirus pandemic, executive board member Fabio Panetta said Tuesday.

Zimbabwe govt denies crisis as inflation jumps to 840 percent

Harare - Zimbabwe's annual inflation rate soared to almost 840 percent in July, the statistics agency said Saturday, adding to the country's desperate economic woes even as the government refused to acknowledge a growing sense of crisis.

Syrians turn to flea markets for frugal Eid al-Fitr

Damascus - In a Damascus flea market, Sham Alloush rummaged through a pile of clothes for something nice to wear for Eid al-Fitr that wasn't too expensive.

For Haitians, die of hunger today or coronavirus tomorrow?

Port-au-prince - When the novel coronavirus first appeared in Haiti authorities and humanitarian experts panicked, worried about the country's decrepit health system -- but the pandemic's economic consequences could prove yet deadlier for the nation's poor.

Owl-right start for ECB's Lagarde in first 100 days

Frankfurt Am Main - Wearing an owl brooch to her January press conference, Christine Lagarde made clear her determination to run the European Central Bank differently from her predecessors as it hunts for a way out of crisis-management mode.

Maduro bids to revive Venezuela's 'petro' cryptocurrency

Caracas - President Nicolas Maduro on Tuesday decreed that airlines flying from Caracas must pay for fuel in Venezuela's ailing "petro" cryptocurrency, which he ordered to be more widely used in the cash-strapped South American country.

Argentina approves economic measures aimed at ending crisis

Buenos Aires - Argentina's center-left government approved on Monday a package of emergency measures aimed at lifting the South American country out of its worst economic crisis in years.

Argentina is in 'virtual default' says president

Buenos Aires - Argentina's President Alberto Fernandez said Sunday the South American country is in virtual default and compared the situation with the 2001 crisis -- the worst in its recent history.

Smooth-talking Lagarde faces first ECB grilling

Frankfurt Am Main - New European Central Bank president Christine Lagarde makes her first monetary policy announcements Thursday, with observers hunting for clues to her leadership style and the bank's response to stuttering eurozone growth.

Departing Draghi looks to bind wounds at ECB

Frankfurt Am Main - At his final press conference Thursday, departing European Central Bank president Mario Draghi will downplay differences among policymakers over September's big-bang stimulus package, hoping to limit their impact on the institution's effectiveness, ana...

Middle class feels the squeeze in debt-wracked Argentina

Buenos Aires - Facing mounting piles of credit card debt, unpaid medical bills and private school fees, Argentina's cash-strapped middle class, much like the state itself, is facing its own debt default.

Soaring prices, rising anger in Imran Khan's Pakistan

Karachi - Nearly one year after the election that brought Imran Khan to power in Pakistan, the cricket-hero-turned-prime-minister faces growing anger as he chases an elusive target: how to right the South Asian nation's teetering economy.

Zimbabwe inflation rate soars to 175%

Harare - Zimbabwe's annual inflation rate hit 175 percent in June, official data showed Monday, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed.

White House economist sees no impact on oil prices from Iran sanctions

Washington - The decision to tighten sanctions on Iran will have "no material impact" on oil prices given the large US supply of petroleum, White House economic advisor Larry Kudlow said Tuesday. "We are a country awash with oil and gas," Kudlow said.

ECB to hold course as threats to growth linger

Frankfurt Am Main - The European Central Bank will hint Wednesday at moves to support the eurozone economy but stop short of new action, analysts expect, as the Frankfurt institution eyes lingering political risks.

Thousands of Haitians protest corruption, rising living costs

Port-au-prince - At least two people died and 14 police officers were injured Thursday, police said, as thousands of Haitians protested against rampant inflation and demanding the resignation of President Jovenel Moise on the two-year anniversary of his inauguration.

End of an era as ECB set to withdraw crisis-fighting stimulus

Frankfurt Am Main - A chapter of eurozone history will come to a close Thursday, with the European Central Bank widely expected to withdraw a key element of support for the economy while reassuring observers fearful of the growing risks.

Brazil central bank keeps interest rate on hold at 6.5%

Bras - Brazil's central bank kept its benchmark interest rate unchanged Wednesday at 6.5 percent, in its first meeting since far-right President-elect Jair Bolsonaro was elected with a pledge to slash government spending.

Bulk buying to bartering, shopping Argentines get creative

Buenos Aires - As the prices of basic foodstuffs such as flour, eggs and oil have increased by anything from 40 percent to over 100 percent since the start of the year, Argentines are having to get creative when they go shopping.

Brazil's central bank maintains record low 6.5% interest rate

Bras - Brazil's Central Bank maintained its key interest rate at the historic low of 6.5 percent on Wednesday, despite uncertainty related to next month's presidential elections and a weakening of the currency against the dollar.

Venezuela breaks monthly inflation record, opposition says

Caracas - Inflation in Venezuela broke the 200 percent barrier for a single month in August, bringing it to 200,000 percent over the last year, the sidelined opposition-controlled parliament said on Wednesday.

Argentina makes 'progress' in IMF talks to speed up crisis loan

Washington - Argentina "made progress" on Tuesday in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a $50 million loan it hopes will calm its debilitating economic crisis.

Turkey inflation surges to 15-year high in August

Ankara - Turkey reported its highest inflation rate in 15 years Monday fuelled by a spectacular drop in the Turkish lira, as analysts predicted that worse is probably to come.Consumer prices rose 17.

Turkish inflation surged to 15-year high in August

Ankara - Inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Monday, a record since late 2003 and coming after the Turkish lira dramatically weakened against the US dollar last month. Consumer prices rose 17.

Stubborn Japan inflation way below target in July

Apo - Prices in Japan edged up only marginally in July, according to government data on Friday, as the world's third-largest economy showed little sign of winning its battle with deflation.Inflation stood at 0.

Turkey inflation surges to nearly 16% in July

Ankara - Inflation in Turkey rose again in July to nearly 16 percent, official statistics showed on Friday, increasing pressure on the central bank to hike interest rates.Consumer prices reached 15.

Brazil's central bank maintains key interest rate at 6.5 percent

Bras - Brazil's Central Bank maintained its key Selic interest rate steady at 6.5 percent on Wednesday, following a bump in inflation prompted by the depreciating real and a painful truck drivers' strike.
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Petrol prices are rising at levels of around 25p per year for just a litre
Petrol prices are rising at levels of around 25p per year for just a litre
Richard Law

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