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Inflation News

'Kennels': Venezuela's dangerous answer to transport chaos

Caracas - Packed inside a barred pick-up truck that looks like a mobile cage, passengers are risking their lives in Venezuela's perilous solution to a public transport crisis.

Argentine small businesses feel pinch as consumers tighten belts

Buenos Aires - President Mauricio Macri's center-right government is struggling to stabilize inflation and reassure markets, but Argentina's small businesses are feeling the pinch in a climate of deep budget cuts and layoffs.

Turkish inflation tops 15% for first time since 2003

Ankara - Inflation in Turkey surged to over 15 percent in June for the first time in almost one-and-a-half decades, official statistics showed Tuesday, putting new pressure on the government of President Recep Tayyip Erdogan to quell rising prices.

Venezuela's hyperinflation at new dizzying high

Caracas - Venezuela's sky-high inflation soared to 24,571 percent in the past 12 months, lawmakers said Monday.

IMF-Argentina loan talks 'well advanced,' spokesman says

Washington - Talks between the International Monetary Fund and Argentina on a new loan program are in advanced stages, with the Fund's board likely to consider the matter soon, a spokesman said Thursday.

Thousands in Argentina protest against utility costs, IMF

Buenos Aires - Tens of thousands of demonstrators marched in the Argentine capital Friday to protest talks between the government and the IMF amid fresh public anger over a hike in utility prices.

Argentina peso drops over 6 percent

Buenos Aires - Argentina's peso plummeted by more than 6 percent on Monday, sparking new inflation fears for Latin America's third-largest economy.The currency fell 6.6 percent to trade at 25.20 against the dollar as markets opened.

Argentina raises key rate to 40 pct -- in third hike in a week

Buenos Aires - Argentina's Central Bank on Friday hiked its benchmark interest rate to 40 percent to support the peso, the third such hike in just over a week and one day after the currency plunged in value.

Argentina raises key rate to 40% — in third hike in a week

Buenos Aires - Argentina's central bank hiked its benchmark interest rate to 40 percent on Friday to support the peso after it plunged in value the day before.The bank had raised its key rate to 33.

Turkish inflation surges again in April ahead of polls

Istanbul - Turkey's inflation rate edged up to almost 11 percent in April, official statistics showed Thursday, adding to fears that the economy is overheating less than two months ahead of elections.Consumer prices rose 10.

Maduro revalues Venezuela currency over hyperinflation

Caracas - Venezuela's President Nicolas Maduro announced Thursday he would re-value the crisis-wracked country's bolivar currency, cutting three zeroes from current values to combat hyperinflation.

Draghi to calm waters ahead of easy-money exit

Frankfurt Am Main - European Central Bank chief Mario Draghi will carefully prepare markets for a long-awaited end to the institution's easy-money policy Thursday, analysts expect, but stop short of calling time immediately.

Maduro boosts Venezuela's minimum wage for 3rd time this year

Caracas - Venezuela's President Nicolas Maduro on Sunday announced a 50 percent increase in the monthly minimum wage to 97 bolivars, or about 37 dollars at the official exchange rate.

Eurozone growth and inflation surge, adding to pressure on ECB

Brussels - Growth in the eurozone accelerated, inflation rose towards the ECB's key target and unemployment fell to a seven-year low as the bloc's economy shrugged off uncertainty over Brexit and US President Donald Trump.

Eurozone GDP growth steady at 0.3 percent in Q3

Brussels - Growth in the eurozone remained stable at 0.3 percent in the third quarter of 2016 as inflation rose to a 27-month high, official data showed on Monday.

Brazil inflation hits 13-year high amid political crisis

Rio De Janeiro - Brazil's inflation rate hit a 13-year high in 2015, in what analysts called payback for years of economic mismanagement, worsened by a political crisis in Latin America's biggest economy.

ECB set to boost stimulus measures

Frankfurt - The European Central Bank is widely expected to step up efforts to kick start chronically low inflation in the euro area at a meeting Thursday, but analysts warn the measures could fall short of market expectations.

Op-Ed: Economic indicators are flashing light green this holiday season

It basically boiled down to figuring out how to make money with the technology. Once we wrapped our brains around that, the money started to flow. The same thing is about to happen with Green technology.

Op-Ed: Inflation rates may rise soon — Financial review

You’re not just imagining it. Prices are going up, except for commodities. And the price of energy has an oversized influence on the annual inflation rate.

Tears as India's soaring onion cost poses challenge for Modi

New Delhi - A leap in onion prices has left a bitter taste for Surinder Anand, owner of a New Delhi restaurant that sweats its way through a hundred kilos a day, but it could pose even bigger problems for India's leader.

Zimbabwe's new exchange rate: $5 for 175 quadrillion local ones

Zimbabwe has announced it will be phasing out its own local currency in favour of the US dollar. The Zimbabwean dollar has been subject to hyperinflation of up to 500,000,000,000 percent so that locals will get $5 USD for 175 quadrillion local dollars.

Waiting in line to shop — A profession in Venezuela

Caracas - Shortages of basic goods and long lines of consumers hoping to buy them have spawned a new profession in crisis-hit Venezuela: waiting in line to buy things for other people.

Beaten Silva party backs Brazil challenger Neves

Bras - The party of beaten Brazil presidential candidate Marina Silva said Wednesday it is backing Social Democrat challenger Aecio Neves in his run-off battle against incumbent Dilma Rousseff.

Op-Ed: Inflation and quality of life in North America

Financial commentators have written about the 2.4% rise in inflation that Canada recently saw. Media writers are correct worry and there is plenty of evidence for that assertion.

India inflation accelerates, rate cut hopes dashed

New Delhi - India's inflation accelerated in March to a three-month high, data showed Tuesday, dashing hopes of an interest rate cut to boost the struggling economy.

Britain's annual inflation slows to 1.6%: official data

London - Britain's 12-month inflation slowed to 1.6 percent in March, the lowest for four and a half years, official data showed on Tuesday.

U.S. producer prices jump in March

Washington - U.S. producer prices surged higher in March as demand for services increased the most in four years, government data released Friday showed.The Labor Department said its producer price index rose 0.5 percent in March, after a slight 0.

German inflation hits three-year low in March

Frankfurt - The rate of inflation in Germany, Europe's biggest economy, fell to its lowest level in more than three years in March, official final data showed on Friday. The cost of living rose by 1.0 percent on a 12-month basis this month, down from 1.

China inflation accelerates to 2.4% year-on-year in March

Beijing - China's inflation rate accelerated to 2.4 percent year-on-year in March, the government said Friday, driven by higher food prices.The increase in the consumer price index (CPI) announced by the National Bureau of Statistics (NBS) was up from the 2.

U.S. warns eurozone over deflation risk

Washington - U.S. Treasury Secretary Jacob Lew warned the eurozone Wednesday to pay heed to the risk of deflation, adding pressure on European authorities and the European Central Bank to boost growth.
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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