The US economy witnessed an acceleration in inflation during the month of April, signaling a departure from the recent slowdown and increasing the likelihood of another interest rate hike in June. The Commerce Department reported that the Personal Consumption Expenditures (PCE) price index rose by 4.4% year-on-year in April, surpassing…
Vyacheslav Volodin, Chairman of Russia’s State Duma, recently raised concerns about the US national debt, calling it a global financial pyramid designed by Washington to deceive other nations. In a post on his Telegram channel, Volodin emphasized the need for countries dependent on the dollar to explore alternatives as the…
Real Earnings Show Improvement in First Quarter of 2023 In the first quarter of 2023, Finland witnessed a slowdown in the decline of real earnings as consumer prices continued to rise at a faster rate than wages, according to preliminary data released by Statistics Finland. Compared to the same period…
UK Inflation Falls Below Expectations, but Core Price Rises Surge According to official data, Britain’s inflation rate, though still at a high level, fell by less than anticipated last month. However, a closely watched measure of core price increases reached a 31-year high, increasing the likelihood of further interest rate hikes. Consumer prices in the UK rose by 8.7% on an annual basis in April, a decrease from March’s 10.1%,…
The latest bulletin from Statistics Mauritius reveals a marginal drop in global inflation from March to April, with the year-on-year inflation rate decreasing from 11.1% to 10.9%. Compared to the previous year, the inflation rate declined from 11.8% in January to 8.3% in April 2023, indicating a slight improvement in economic conditions. However, this decrease is relatively small, and it does not signify significant changes in the business landscape. Factors…
In Austria, the continuous devaluation of money has reached an all-time high, with inflation running rampant. Statistics Austria announced that inflation soared to 9.7 percent in April, driven primarily by price increases in flights, accommodation, and gastronomy. The surge in package tour prices, particularly for flight tickets, has played a significant role in driving up inflation, marking a notable shift after a long period of stability. The desire to travel…
The Justice and Development Party (PJD) in Morocco’s House of Representatives has introduced a bill aimed at amending consumer protection laws to address the challenges posed by inflation. The proposed legislation seeks to safeguard Moroccan consumers and regulate prices of products and services in the national market, combat fraud and speculation, and enhance consumer awareness. Protecting Consumers from Price Fluctuations The bill presented by the PJD parliamentary group focuses on shielding consumers from the impact of price fluctuations. It emphasizes…
Calls for Importation to Address Price Increase Philippines’ Department of Agriculture revealed that the retail price of onions has increased again by at least P20 per kilo, with the highest selling price reaching P200 per kilo compared to P180 per kilo last week. As of Monday, the prices were found to be as high as P200 per kilo at Guadalupe Public Market in Makati and Marikina Public Market in Marikina City. Meanwhile, in other Metro Manila markets, the retail prices…
Dollar Records Gains in Interbank Market at the Start of Business Today The US dollar started the day on a positive note in the interbank market as its price increased by 8 paise, reaching a new value of 283 rupees and 90 paise. This indicates that the dollar has become more expensive for buyers in the interbank market as compared to yesterday’s closing rate of 283 rupees and 82 paise. Increase of 16 Paisa in Interbank Exchange Rate of US…
The municipality of Paphos announced on Tuesday that President Nikos Christodoulides will lay the foundation stone for the new campus of the American University of Beirut (AUB) in Paphos next week. The event, scheduled for 11am on June 7, will witness the presence of former President Nicos Anastasiades, signifying the significance of the occasion. A New Chapter in Academic Collaboration The AUB-Mediterraneo, to be established in the former building of the old Carob Mills, marks a new chapter in academic…
Inflation in Lebanon has continued to surge, with an annual rate of about 264 per cent in March, as the Lebanese pound continues to lose value on the parallel and official markets since it was devalued by 90 per cent at the start of February. This marks the 33rd consecutive month of hyperinflation in the country. The rising costs were led by communication, alcoholic beverages and tobacco, restaurants and hotels, health, as well as food prices, water, and energy rates,…
Pharma Firms Price Increase: Pharma Firms Price Increase: The Economic Coordination Committee (ECC) of the Cabinet has finally given in to the longstanding demand of pharmaceutical firms to increase the prices of medicines. This decision came after careful consideration of the Ministry of National Health Services, Regulations and Coordination’s summary, which detailed the need for an increase in maximum retail prices of drugs. Currency Devaluation and Inflation Influence Decision: The ECC, chaired by Finance Minister Ishaq Dar, acknowledged the recommendations…
Pakistan continues to grapple with soaring inflation as food and fuel prices drive up the cost of living. Data released by the Pakistan Bureau of Statistics (PSB) reveals that weekly inflation reached 46.82 percent on a year-on-year (YoY) basis for the week ending April 27, 2023. This marks the second consecutive week with inflation rates exceeding 45 percent compared to the previous year. Weekly Pakistan Inflation Remains Elevated: Several factors have contributed to this surge in inflation, including significant price…
The Nature of Inflation and its Impact on Consumers The Consumer Price Index (CPI) experienced a recovery in April after a slowdown in March. Inflation continues to curb economic growth, but consumers are not yet feeling the relief. Experts emphasize that inflation is a “continuous and cumulative variable with a characteristic character,” which means that prices will always be compared to their predecessors. Several factors contributed to the slow progress of the Consumer Price Index in March. As markets reactivated…
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