Because low-income households spend a greater share of their incomes on necessities, their actual rate of inflation has been greater than middle- and upper-income earners, CNBC reported.
Tag: inflation
INFLATION, RETAIL SALES IN U.K. KEEP SLOWING DOWN
In October, sharply lower energy prices dropped Britain’s inflation rate to 4.6 percent, the slowest since October 2021, after running at 6.7 percent in September.
U.K. GROCERY INFLATION FALLS TO SINGLE DIGITS FOR FIRST TIME IN 18 MONTHS
Inflation in British grocery prices fell to 9.7 percent in the four weeks ending 29 October, the first time monthly food price gains have been limited to single digits since July 2022, research service Kantar reported.
FED NOT READY TO DECLARE VICTORY OVER INFLATION, POWELL SAYS
U.S. inflation is not yet tamed and the U.S. Federal Reserve is more likely to raise interest rates than cut them if any change is needed, Fed chair Jerome Powell said in a 9 November speech to a conference of the International Monetary Fund.
U.S. ECONOMY GREW 4.9 PERCENT IN THIRD QUARTER
U.S. GDP grew at an annual rate of 4.9 percent in this year’s third quarter, the commerce department reported.
INFLATION LARGELY UNCHANGED IN SEPTEMBER
Consumer prices grew by 0.4 percent in September from August and 3.7 percent on the year, the U.S. Labor Department reported. Dow Jones had estimated 0.3 and 3.6 percent, respectively.
INFLATION ASSAULTS COMMODITIES
In 2021, Liontown Resources had budgeted $300 million for its new Australian lithium mine. The budget now is twice that.
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.