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July 24, 2008 11:44:39 PM CDT

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Stories related to: inflation

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Stories 1 - 20 of 97

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  • July 2008

    • Zimbabwe Launches $100B Bill

      newser  |  BBC  |  Jul 20, 08 3:29 PM CDT

      Zimbabwe Launches $100B Bill

      Zimbabwe will introduce a new $100 billion bank note tomorrow to offset rampant inflation—a seemingly exorbitant sum that may not even buy a loaf of bread. The official annual inflation rate in the country tops 2,200,200%, but independent estimates peg the actual rate at many times higher. Denominations have grown exponentially since the central bank introduced a $10 million bill in January. More »

      Tags

      Zimbabwe  • Robert Mugabe  • inflation  • Zimbabwe elections  • hyper-inflation

    • Weak Dollar Scaring Off Foreign Funds

      newser  |  Financial Times (UK)  |  Jul 17, 08 4:18 PM CDT

      Weak Dollar Scaring Off Foreign Funds

      With the dollar declining and US economic outlook uncertain, some large sovereign wealth funds are looking to cut down on greenbacks, the Financial Times reports. One such Persian Gulf fund has cut its dollar-denominated investments from 80% to 60%, and China’s State Administration of Foreign Exchange is aggressively exploring European investments—a sign they don't trust US policy-makers to defend their currency. More »

      Tags

      China  • inflation  • weak dollar  • Abu Dhabi  • investment  • sovereign wealth funds  • Abu Dhabi Investment Authority

    • Consumer Prices Surge Most Since '91

      newser  |  Bloomberg  |  Jul 16, 08 9:35 AM CDT

      Consumer Prices Surge Most Since '91

      Consumer prices rose a staggering 1.1% in June, Bloomberg reports. The figure far surpassed analyst estimates, and brings the year-over-year figure to 5%–the biggest surge since 1991. Core inflation, which excludes food and energy, rose a more-than-expected 0.3%. “Inflation has galloped,” one economist said. “It puts the Fed in a really tricky position. I don't see how they can change rates this year.” More »

    • Europe Hikes Interest Rates to Curb Inflation

      newser  |  MarketWatch  |  Jul 3, 08 8:29 AM CDT

      Europe Hikes Interest Rates to Curb Inflation

      The European Central Bank today adjusted interest rates for the first time in more than a year, reports MarketWatch, raising the main rate by a quarter-point to 4.25%. The increase comes just after a report that inflation in the eurozone has reached 4%, the highest rate since the introduction of the euro in 1999. The move was expected, and the euro remained strong, hovering at around $1.58. More »

      Tags

      inflation  • interest rate  • euro  • European Central Bank  • ECB  • eurozone

    • Paper Co. Cuts Off Supply of Zimbabwe's Bank Notes

      newser  |  Wall Street Journal  |  Jul 2, 08 12:46 PM CDT

      Paper Co. Cuts Off Supply of Zimbabwe's Bank Notes

      The German company that supplies Zimbabwe with the paper for its hyper-inflated currency has caved to pressure from the German government and stopped doing business with embattled dictator Robert Mugabe. The secretive Bavarian firm, Giesecke & Devrient, had been airlifting tons of special blank bank notes—fortified with watermarks and other antiforgery features—to Mugabe so that new currency could be printed, adding more zeros,  every couple of weeks. More »

      Tags

      Zimbabwe  • Robert Mugabe  • inflation  • money  • currency  • hyper-inflation

  • June 2008

    • What if Oil Hits $200?

      newser  |  Los Angeles Times  |  Jun 28, 08 3:35 PM CDT

      What if Oil Hits $200?

      Wall Street has predicted $200-per-barrel oil for months, but what if it really happens? Not only drivers would be hurt by such a spike, the Los Angeles Times reports: Inflation would skyrocket as oil-derived products turn pricey and "the purchasing power of the American people would be kicked in the teeth so darned hard that they won't have the ability to buy much of anything,” one energy expert predicted. More »

      Tags

      oil price  • oil  • inflation  • $100 a barrel oil  • commute

    • Stimulus' Boost Seen; How Long It Lasts Unsure

      newser  |  New York Times  |  Jun 27, 08 2:22 PM CDT

      Stimulus' Boost Seen; How Long It Lasts Unsure

      The government's stimulus package has worked—for now at least, the New York Times reports. Spending rose 0.4% last month, the Commerce Department said today, buoyed by the $50 billion in checks sent to consumers. But subtract the stimulus, and income levels rose only modestly, and wage growth lagged well behind inflation. More »

    • 'Difficult' Dow Ends Down 358

      newser  |  Wall Street Journal  |  Jun 26, 08 3:37 PM CDT

      'Difficult' Dow Ends Down 358

      Stocks plunged today due to the convergence of bad news across all sectors of industry against the backdrop of oil’s first surge over $140 a barrel, the Wall Street Journal reports. The Dow plummeted to a 2-year-low, shedding 358.41 to 11,453.42. The Nasdaq fell 79.89, settling at 2,321.37, and the S&P 500 fell 38.82 to close at 1,283.15. More »

      Tags

      Federal Reserve  • S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • inflation  • Goldman Sachs  • Wachovia

    • Fed Likely to Hold Rates— for Now

      newser  |  Reuters  |  Jun 25, 08 6:17 AM CDT

      Fed Likely to Hold Rates&mdash; for Now

      Despite fears that inflationary forces are revving, the Federal Reserve will probably hold the interbank federal funds rate at 2% today, hoping the bargain basement rate can help kick-start a stalled economy that’s been hamstrung by a tenacious housing slump and a credit crunch hangover, Reuters reports. More »

      Tags

      Federal Reserve  • Ben Bernanke  • inflation  • interest rate  • interest rate cut

    • Faltering Banks Push Stocks Down

      newser  |  Wall Street Journal  |  Jun 17, 08 3:15 PM CDT

      Faltering Banks Push Stocks Down

      The markets fell today, led by plunging financials and bank stocks, despite a solid second-quarter report from Goldman Sachs. "There is a lack of clarity at every level of the financial system right now, from regulators to companies," a floor trader told the Wall Street Journal . The Dow fell 108.78 to 12,160.30, the Nasdaq 17.05 to 2,457.73, and the S&P 500 9.21 to 1,350.93. More »

      Tags

      stock market  • inflation  • Goldman Sachs  • financial stocks  • financial sector

    • Blip or Deeper Trouble? More Economists Grow Gloomy

      newser  |  BusinessWeek  |  Jun 7, 08 10:01 PM CDT

      Blip or Deeper Trouble? More Economists Grow Gloomy

      Optimists can easily chalk up Friday's disastrous day on Wall Street to a skittish market overreacting to lousy news about oil prices and unemployment. The problem, writes Ben Steverman in BusinessWeek , is that many analysts are lining up in the pessimists' camp, which holds that something more "fundamental" is awry. The credit crunch is easing, but rising inflation and an increasingly "fragile" economy could spell long-term trouble. More »

      Tags

      gas prices  • oil  • inflation  • economy  • interest rate  • crude oil

  • May 2008

    • Mixed Day Yields Mixed Results

      newser  |  MarketWatch  |  May 30, 08 3:30 PM CDT

      Mixed Day Yields Mixed Results

      Stocks ended mixed after a seesaw session today, with strong performance by tech and energy shares contrasting with bad news on consumer spending and incomes, MarketWatch reports. The Dow closed down 7.90 at 12,638.32. The Nasdaq gained 14.34 to 2,522.66, while the S&P 500 ticked up 2.12, ending at 1,400.38. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • technology  • inflation  • computer  • commodities  • Dell

    • Oil, Inflation Wallop Stocks

      newser  |  Wall Street Journal  |  May 20, 08 3:27 PM CDT

      Oil, Inflation Wallop Stocks

      The Dow plunged nearly 200 points today as markets were swamped by soaring oil prices and inflation fears. "All the long-term indicators we look at are sending a bearish message," an investment researcher told the Wall Street Journal . The Dow ended down 199.48 to 12,828.68, the Nasdaq down 23.83 to 2,492.26, and the S&P down 13.23 to 1,413.40. More »

      Tags

      stock market  • oil price  • inflation

    • Two Shot in Somalia Food Riots

      newser  |  BBC  |  May 5, 08 10:31 AM CDT

      Two Shot in Somalia Food Riots

      Soldiers shot and killed at least two people in Somalia as thousands rioted over inflation and soaring food prices. A recent rash of counterfeiting has led some merchants to only accept US dollars, instead of local shillings, the BBC reports. In response, angry Somalis threw rocks and burned tires, shouting, "Down with the dollar-receivers." More »

      Tags

      inflation  • hunger  • Somalia  • food riots  • hyper-inflation

    • Euro About to Mark 10 Years

      newser  |  New York Times  |  May 1, 08 6:02 PM CDT

      Euro About to Mark 10 Years

      Like many 10-year-olds, the euro has had its ups and downs, but its current ascendancy is worrying, and not just to fans of the weakening dollar; some European states are chafing at the strength of their common currency, the New York Times reports. The German economic engine is causing high prices and ballooning debt in countries such as Greece, Italy, Spain, and Portugal. More »

      Tags

      Germany  • European Union  • Italy  • inflation  • economy  • Europe  • euro  • currency

  • April 2008

    • Rate-Cut News Sweeps Away Rally

      newser  |  Wall Street Journal  |  Apr 30, 08 3:38 PM CDT

      Rate-Cut News Sweeps Away Rally

      News of today's Fed interest-rate cut swept away a market rally, and stocks ended down. Language in the Fed statement indicating that further trims were unlikely spooked investors, the Wall Street Journal reports, though that news was expected. The Dow ended down 11.81 to 12,820.13; the Nasdaq was off 13.30 to 2,412.80; and the S&P down 5.35 to 1,385.59. More »

      Tags

      stock market  • Federal Reserve  • inflation  • interest rate cut

    • Consumer Confidence Hits 26-year Low

      newser  |  Reuters  |  Apr 25, 08 10:59 AM CDT

      Consumer Confidence Hits 26-year Low

      Consumer confidence fell to a 26-year low in April, as the public fretted over inflation and housing, Reuters reports. The index fell to 62.6, surpassing the 63.2 analysts had predicted. Nearly 90% said the economy is in recession. Respondents also said they were unlikely to spend their stimulus or tax-rebate checks, planning instead to save them or pay down debt. More »

      Tags

      recession  • inflation  • subprime crisis  • economy  • consumer confidence  • economic indicators

    • Fed Ponders Pause in Rate Cuts—After 1 More

      newser  |  Wall Street Journal  |  Apr 24, 08 10:05 AM CDT

      Fed Ponders Pause in Rate Cuts&mdash;After 1 More

      The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »

      Tags

      Federal Reserve  • recession  • Ben Bernanke  • inflation  • subprime crisis  • interest rate cut

    • Surging Energy Prices Drive Global Inflation

      newser  |  Wall Street Journal  |  Apr 10, 08 12:00 PM CDT

      Surging Energy Prices Drive Global Inflation

      Inflation in Europe and the US is projected to reach its highest point since 1995, the Wall Street Journal reports, with food prices up 83% in three years and rising energy and transportation costs. The International Monetary Fund predicts the US and Europe will see inflation of 2.6% this year, with consumer prices in developing countries rising 7.4%. More »

      Tags

      Federal Reserve  • food  • inflation  • food prices  • World Bank  • consumer prices  • International Monetary Fund

    • Bank of England Cuts Interest Rate

      newser  |  Bloomberg  |  Apr 10, 08 7:35 AM CDT

      Bank of England Cuts Interest Rate

      The Bank of England today cut its benchmark interest rate 25 basis points to 5%, reports Bloomberg, hoping to keep the nation’s economy out of recession. Despite the third cut since December, BoE’s rate remains the highest among the Group of Seven industrialized nations; policymakers have drawn fire for being “behind the curve” in responding to the credit crisis. More »

      Tags

      recession  • credit crisis  • Gordon Brown  • inflation  • interest rate cut  • Bank of England  • Mervyn King

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