In 2021, Liontown Resources had budgeted $300 million for its new Australian lithium mine. The budget now is twice that.
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CANADA’S INFLATION RATE SPIKES IN AUGUST
Canada’s annual Inflation rate jumped to 4 percent in August from 3.3 percent in July, largely due to a 0.8-percent rise in the price of petroleum fuels, Statistics Canada reported. The rate was the highest since April.
BUNDESBANK PRESIDENT WARNS AGAINST ENTRENCHED INFLATION
“At all costs,” the European Central Bank (ECB) must prevent inflation from becoming entrenched across the Eurozone’s economy, Joachim Nagel, president of Germany’s central bank, said in a speech last week.
IS INFLATION HEADING BACK HIGHER?
In August, U.S. inflation moved up to 3.7 percent after registering 3.2 percent in July. It was the first month-to-month increase in a year.
U.S. CONSUMER INFLATION, WHOLESALE PRICES SPEED UP IN AUGUST
U.S. inflation rose from July’s 3.2 percent annually to 3.7 percent in August, driven higher by rising gasoline prices, the U.S. labor department reported. Analysts had expected the figure to rise to 3.6 percent.
AS INFLATION SLOWS, PROFITS FALL TOO
After-tax corporate profits in this year’s second quarter were 9.4 percent below those of a year earlier, the U.S. Commerce Department reported in late August, although companies listed in the Standard & Poor’s 500 index showed only a 2.9-percent decline in earnings per share, data service Refinitiv said.
HEADLINE INFLATION SLOWS IN U.K.—BUT THE NUMBER IS DECEPTIVE
Britain’s top-line inflation eased to 6.8 percent in July, the Office for National Statistics reported, sharply lower than June’s 7.9 percent.
INFLATION SCRAMBLES INVESTORS’ RATE EXPECTATIONS
Stubbornly high core inflation, especially in Europe, and high-interest rates, particularly in the U.S., have convinced investors to sell the bonds they bought expecting central banks to start cutting rates soon.
CASH-STRAPPED FAMILIES FACE DAUNTING CHILD-CARE COSTS FAR OUTPACING INFLATION
The U.S. Labor Department said in a recent report that the average price of daycare and preschool jumped 6 percent last month, which is about double the country’s current inflation rate of 3.2 percent.
EUROPEAN INFLATION WILL RISE FOR A DECADE
Inflation swaps, analyst surveys, and other indicators find Europe’s economy watchers expecting inflation to continue above the European Central Bank’s (ECB’s) 2-percent target for at least a decade.