Business

UK inflation leaps to 10-year high, bolstering rate hike bets

LONDON (Reuters) -British inflation surged to a 10-year high last month as household energy bills rocketed, according to data on Wednesday that will bolster expectations that the Bank of England will raise interest rates next month.FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, amid the […]

Business

Analysis: From chips to ships, shortages are making inflation stick

LONDON (Reuters) – Soaring gas prices, staff shortages, a lack of ships — price pressures globally may be picking up faster than anticipated, challenging the view that inflation will prove transitory.FILE PHOTO: A gas burner is pictured on a cooker in a private home in Bordeaux, soutwestern France, December 13, 2012. REUTERS/Regis DuvignauCentral bankers, while […]

Business

Inflation is popping from Sydney to San Francisco. It may be a good sign

Inflation has surged across advanced economies. The shared experience underlines that price gains come from temporary drivers — for now. Price gains are shooting higher across many advanced economies as consumer demand, shortages and other pandemic-related factors combine to fuel a burst of inflation. The spike has become a source of annoyance among consumers and […]

Business

Euro zone inflation surges to 10-year-high, in headache for ECB

FRANKFURT (Reuters) -Euro zone inflation surged to a 10-year-high in August with further rises likely, challenging the European Central Bank’s benign view on price growth and its commitment to look past what it deems a temporary increase.FILE PHOTO: A shopper pays with a euro bank note in a market in Nice, France, April 3, 2019. […]

Business

Euro zone inflation easing confirmed, trade surplus dips

BRUSSELS (Reuters) – Euro zone inflation slowed in June after a steady acceleration in the first months of 2021, official data confirmed on Friday, while the bloc’s trade surplus shrank in May due to a decline of exports.FILE PHOTO: People walk down the empty Hohe Strasse shopping district during a night-time curfew, amid the coronavirus […]

Business

U.S. producer prices post biggest annual increase in more than 10-1/2 years

WASHINGTON (Reuters) – U.S. producer prices accelerated in June, leading to the largest annual increase in more than 10-1/2 years, suggesting inflation could remain high as robust demand fueled by the economy’s recovery from the COVID-19 pandemic strains the supply chain. The report from the Labor Department on Wednesday followed on the heels of news […]

Business

U.S. producer prices surge more than expected in June

WASHINGTON (Reuters) – U.S. producer prices increased more than expected in June, suggesting inflation could remain high as robust demand fueled by the economy’s recovery from the COVID-19 pandemic continues to strain the supply chain.FILE PHOTO: Lordstown Motors associates work on a pre-production all electric pickup truck, the Endurance, at the Lordstown Assembly Plant in […]

Business

The Federal Reserve chair says inflation will likely remain high in coming months.

Jerome H. Powell, the Federal Reserve chair, is set to tell House lawmakers that inflation has increased “notably” and is poised to remain higher in coming months before moderating — but he will make no indication that the recent jump in prices is pushing central bankers to rush to change policy. The Fed chair will […]

Economy

US sees biggest annual inflation jump since 2008

WASHINGTON (AFP) – The United States saw its biggest surge in inflation in more than a decade last month, according to government data released on Tuesday (July 13), hitting consumers and challenging the White House and Federal Reserve narrative that the price spike will fade in the coming months. As widespread Covid-19 vaccinations allowed the […]

Business

Stock Takes: Inflation is coming. What to look out for when prices rise

Inflation is coming. Results of this week’s NZIER Quarterly Survey of Business Opinion added to a growing list of leading indicators that have pointed to inflation picking up. “The increase in both costs and prices points to rising inflation pressures, which is underpinning expectations of interest rate increases from the Reserve Bank over the coming […]