The Biden administration plans to roll out executive orders and climate mandates affecting automobiles and trucks to reach a 50% reduction in emissions by the end of the decade, according to Special Presidential Envoy for Climate John Kerry During an interview with Yahoo News last week, Kerry spoke on President Biden’s plans, but also on lifestyle … Read more
Prices for food and non-alcoholic drinks have jumped to the highest level since 1977, official statistics show Consumer prices in the UK unexpectedly surged in February, driven by soaring food and energy bills, the Office for National Statistics (ONS) reported on Wednesday. Annual inflation as measured by the consumer prices index ran to 10.4% last … Read more
The Bank of England raised interest rates by a further quarter of a percentage point on Thursday and said it expected the surge in British inflation to cool faster than before, despite a surprise jump in price growth last month, Trend reports citing Reuters. Sounding more upbeat about the outlook for the country’s slow economy, … Read more
The Bank of England raised interest rates by a quarter point to 4.25 percent, as policymakers remained focused on battling inflation even as concerns over the health of the global financial system linger. The Bank’s monetary policy committee voted 7-2 to increase the key interest rate. Two members preferred to maintain the Bank Rate at … Read more
The surge in consumer prices recorded last year amid Western sanctions has been gradually subsiding Inflation in Russia was running at an annualized rate of 5.99% as of March 20, slowing from 7.65% recorded a week earlier, according to the latest report released by the country’s economy ministry on Wednesday. In the category of non-food … Read more
Consumer prices will continue to rise well into the next year amid global uncertainty, an economic advisory council has said The German Council of Economic Experts (GCEE) has warned that inflation in the country could remain high for longer than expected, or even accelerate if monetary policy measures are offset by risks in financial markets. … Read more
The US Federal Reserve has downgraded the GDP growth forecast for 2023 to 0.4% from 0.5%, Trend reports citing TASS. At the same time, the Federal Reserve has downgraded its forecast for US inflation in 2023 to 3.3% from 3.1%. Furthermore, the Federal Reserve has improved its forecast for the US unemployment rate in 2023 … Read more
London CNN — Consumer prices in the United Kingdom jumped by 10.4% in February compared with a year ago, as food inflation hit its highest level in more than 45 years and restaurants charged more for alcohol, official data showed Wednesday. “Inflation ticked up in February mainly driven by rising alcohol prices in pubs and … Read more
After three months of small drops, Britain’s inflation jumped in February, defying expectations and raising pressure on the Bank of England to increase interest rates, data released by the Office for National Statistics showed today. The consumer price index rose by 10.4 percent in February, up from 10.1 percent in January. According to a Reuters … Read more
The Canadian government announced Tuesday the federal minimum wage will increase from 15.55 Canadian dollars (12.4 U.S. dollars) by 7 percent to 16.65 Canadian dollars per hour on April 1 to keep pace with inflation, Trend reports citing Xinhua. Based on the Consumer Price Index (CPI), which rose 6.8 percent in 2022, the increase will … Read more