U.S. activity in manufacturing and services slowed slightly this month as factories’ cost of materials and prices for finished products rose to their highest level since July 2022.
Tag: inflation
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ECB SAYS LATEST RATE CUT WILL HOLD INFLATION AT THE RIGHT LEVEL
The European Central Bank’s (ECB’s) 5 June quarter-point interest rate cut brings its policy rate to a flat 2 percent. The reduction will ensure that inflation does not slip below the bank’s target rate of 2 percent, ECB chief economist Philip Lane said in a speech at a financial conference last week.
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INFLATION TICKS UP IN MAY
Last month, the U.S. inflation rate edged up to 2.4 percent after marking 2.3 percent in April, the Bureau of Labor Statistics reported.
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AS INFLATION EASES, INDIA SURPRISE WITH A HALF-POINT RATE CUT
In April, inflation in India ran at an annual rate of 3.2 percent, the slowest in almost six years, as food prices rose at a slower pace.
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RISING MORTGAGE INTEREST RATES WILL HOBBLE EUROPE’S ECONOMY, ECB SAYS
Although the European Central Bank (ECB) has lowered its interest rates, the cost of a mortgage is likely to continue rising throughout the 20-country Eurozone until at least 2030, the bank has warned.
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INFLATION FALLS TO 2.1 PERCENT, VIRTUALLY MATCHING FED’S TARGET
The U.S. Federal Reserve’s favorite measure of inflation showed prices rose at a 2.1-percent annual rate in April, next door to the Fed’s long-held 2-percent target rate.
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U.S. ECONOMY SHRINKS 0.2 PERCENT IN FIRST QUARTER
The American economy contracted by 0.2 percent in 2025’s first quarter, compared to 2.4 percent growth in 2024’s final three months. It was the first quarterly contraction since 2022.
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JAPAN’S INFLATION RATE RISES TO 27-MONTH HIGH
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
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CONSUMERS’ OUTLOOK FALLS TO SECOND-LOWEST IN SURVEY’S HISTORY
Consumers’ gloom deepened for a fifth consecutive month in the University of Michigan’s preliminary May survey of households’ financial outlook.
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BANK OF ENGLAND CUTS INTEREST RATE FOR A FOURTH TIME
On 8 May, the Bank of England (BoE) cut its policy interest rate from 4.5 percent to 4.25 percent, the fourth reduction in the rate-setting committee’s last seven meetings.
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