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Inflation News

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.

Turkey central bank sharply hikes 2018 inflation forecast

Ankara - The Turkish central bank on Tuesday sharply hiked its inflation forecast for 2018 to well over 13 percent, putting new pressure on the embattled lira and raising fears over the extent of price pressure in the economy.

'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.
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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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