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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: inflation

inflation stories: 135 news summaries

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2008 Inflation Slowest in 50 Years on Oil Prices, Economy

Slow spending, sliding energy costs lead to 0.1% CPI increase last year

Jan 16, 09 8:43 AM CST
(Newser) - In 2008, consumer prices crept up at the slowest rate since 1954, climbing just 0.1% for the year and missing the Fed’s preference of 1.5% to 2% by a wide margin, the Wall Street Journal reports. Just months after inflation hit 17-year highs, a 75% drop in... More »

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inflation • Ben Bernanke • Federal Reserve • deflation • interest rate • commodities • monetary policy • financial meltdown

(Newser) - The Federal Reserve anticipates the recession will continue through 2009 despite its recent rate slash and other planned “nontraditional policies,” the Wall Street Journal reports. Minutes of the Fed's December 15-16 meeting, at which it cut rates to nearly zero, indicate a deep pessimism about the economy.... More »

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inflation • Federal Reserve • recession • deflation • interest rate • Federal Open Market Committee • interest rate cut • economic downturn

 Youths Flee Struggling Iceland 

Ailing economy forcing mass exodus

Dec 2, 08 3:49 PM CST
(Newser) - Iceland faces its largest exodus in a century as job seekers flee the ailing nation, which is steeped in its worst financial crisis since independence. One survey estimates about half of Icelanders between 18 and 24 plan are thinking about leaving the country for Norway and other relatively strong economies.... More »

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inflation • world economy • unemployment • Iceland • banking • weakening economy • financial crisis

Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nevertheless, US is 'navigating the mother of all financial storms'

Nov 4, 08 1:46 PM CST
(Newser) - The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I... More »

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inflation • Federal Reserve • Dallas • credit crisis • economy • financial crisis • Richard Fisher

 Spending Dive Sends 
 GDP Down 

Economists fear prolonged recession inevitable as numbers erode

Oct 30, 08 8:28 AM CDT
(Newser) - The US economy shrank less than expected in the third quarter but still suffered the biggest contraction since the 2001 recession, reports Bloomberg. The gross domestic product fell 0.3%, led by the first fall off of consumer spending in two decades. The figure, out from the Commerce Department this... More »

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inflation • recession • consumer spending • GDP • financial crisis

 Fed Weighs 
 Emergency 
 Rate Cut 

As economy deteriorates, inflation becomes less of a concern

Oct 2, 08 9:28 AM CDT
(Newser) - Mounting fears that the credit crisis and continually worsening economic data will push a stagnant US economy into a severe recession has spurred the Federal Reserve to consider cutting interest rates from their current 2%, the Wall Street Journal reports. Even if the House follows the Senate in passing the... More »

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inflation • Ben Bernanke • Federal Reserve • recession • bailout • interest rate cut • financial crisis

Zimbabwe Makes US Dollar Legal Tender

Inflation rate of 11M% makes local currency largely worthless

Sep 26, 08 7:49 AM CDT
(Newser) - The government of Zimbabwe will allow consumers and shops to deal in American and South African currency as an 11 million percent inflation rate continues to pummel the nearly worthless Zimbabwean dollar. Cash remains in short supply in Zimbabwe, and on a flourishing black market a US dollar can fetch... More »

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inflation • Zimbabwe • US dollar • hyper-inflation

99 Cents Only Hikes Prices, But Only by 0.99 Cent

Discount chain follows 2 bum quarters with extra 99% of a penny

Sep 9, 08 2:52 PM CDT
(Newser) - The store where nothing costs more than 99¢ has become the store where nothing costs more than 99.99¢, reports the LA Times. The top price at 99 Cents Only will go up by 99/100 of a penny this month, say executives at the discount chain, who blame inflationary pressures.... More »

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inflation • retail • retail sales • chain stores • price increases • discounts • retailers • 99 Cents Only

OPINION

Wait on Rate Hikes Until
Crisis Eases

Fed should ignore critics, hold its ground until markets rebound

Sep 3, 08 5:55 PM CDT
(Newser) - Critics claim the Federal Reserve has been too eager to cut interest rates, and that lax policy has exacerbated inflation. But the Fed should hold its ground, Desmond Lachman argues in the American, until the housing and credit markets are clearly on the rebound. The credit crunch has prompted banks... More »

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inflation • housing market • Federal Reserve • foreclosure • US economy • interest rate • credit crisis • lending practices • interest rate cut • monetary policy

MARKETS

 Lower Oil, Inflation Rally Stocks

Fed chief soothes markets; Lehman may have a buyer

Aug 22, 08 3:36 PM CDT
(Newser) - Stocks rallied today amid light trading but still saw weekly losses as oil prices fell and financials rebounded, helped in part by a speech by Ben Bernanke that eased inflation fears, MarketWatch reports. The Dow surged 197.85 to 11,628.06; the Nasdaq gained 34.33, closing at 2,... More »

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inflation • Ben Bernanke • Federal Reserve • Dow Jones • Lehman Brothers • Nasdaq • S&P 500 • financial stocks • oil prices

Inflation Hurts US Workers; Europeans
Keep Pace

But higher Europe wages drive up prices

Aug 22, 08 10:20 AM CDT
(Newser) - Workers in the US are falling behind inflation while their counterparts in the 15-nation Eurozone are keeping pace, in part because of more powerful unions, the Wall Street Journal reports. But rising wages may damage the European economies, as they deter companies from hiring and in turn boost inflation. When... More »

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inflation • Consumer Price Index • wages • consumer prices • labor unions • wage increase • euro zone

 Record Food Price Hikes Loom

Biggest increases for 20 years forecast

Aug 21, 08 7:59 AM CDT
(Newser) - Americans should get ready for pain at the supermarket checkout, reports Reuters—and squash any hopes of food prices getting better next year. A revised USDA forecast predicts a 5% to 6% leap in food prices this year—the biggest increase in 20 years—and USDA officials fear 2009 could... More »

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inflation • cereal • USDA • food prices • Ed Schafer • meat and poultry • fruit and vegetables • Fall harvest

Wholesale Prices Rising at Fastest Pace Since 1981

High energy, motor vehicle costs pushing inflation; Fed may be forced to boost rates

Aug 19, 08 10:25 AM CDT
(AP) - Wholesale prices jumped 1.2% in July—more than twice the rate economists expected and  the fastest pace in 27 years, according to government data released today, the AP reports. Core prices, which exclude food and energy, rose 0.7%, the biggest since November 2006; new home construction in July... More »

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inflation • gas prices • consumer prices • economy • energy costs • oil prices • wholesale prices

(AP) - US consumer prices shot up 0.8% in July, twice the expected rate, pushed higher by surging energy and food costs, the AP reports. The spike left inflation running at 5.6%, the fastest pace in 17 years, the Labor Department reported today. It marked the third straight month of... More »

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inflation • Federal Reserve • economic indicators • core inflation • consumer prices

Eurozone Sees First Slump; Germans Lead Decline

For the first time in a decade the vaunted union of 15 nations sees a collective dip

Aug 14, 08 7:27 AM CDT
(Newser) - The eurozone economy contracted 0.2% in the second quarter, the first time the 15-nation union has seen negative growth since it was formed a decade ago, reports the Guardian. The group of countries that share the euro saw 0.7% growth in the first quarter but were hurt this... More »

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inflation • Germany • France • global economy • eurozone

Bank of England Pressed to Rein in Inflation

Food, energy prices soar, push inflation to highest rate in 16 years

Aug 13, 08 10:26 AM CDT
(Newser) - Great Britain’s inflation rate—driven by energy and food prices rising at the fastest pace in more than 20 years—is on track to hit 5% by autumn, reports the Guardian. The cost of living jumped 0.6% to a 16-year high of 4.4% last month, the largest... More »

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inflation • core inflation • credit crisis • food prices • Bank of England

Iraq Private Sector Stalls, Public Hiring Fills Gap

Economy driven by single employer sparks financial concerns

Aug 11, 08 11:05 AM CDT
(Newser) - With private business slow to take root in post-invasion Iraq, the government is picking up the slack by hiring a vast army of employees, the New York Times reports, creating an economy far different from what the US had foreseen. Government jobs will account for about 35% of employment this... More »

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Iraq • inflation • employment • public sector • Iraq war • private sector

MARKETS

 Oil Drops; Stocks Follow  

Gray day on Street ahead of Fed's policy meeting

Aug 4, 08 3:35 PM CDT
(Newser) - Stocks closed down today, giving back gains from an early rally despite a nearly $4 drop in crude oil prices as worries about economic growth and inflation persisted, the Wall Street Journal reports. The Dow fell 42.17 to close at 11,284.15, the Nasdaq lost 25.40 and... More »

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inflation • Chevron • economic growth • Federal Reserve • Dow Jones • Nasdaq • HSBC • S&P 500 • financial stocks • Exxon Mobil

 Zimbabwe Launches $100B Bill 

Note likely to prove ineffectual against hyperinflation

Jul 20, 08 3:29 PM CDT
(Newser) - 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.... More »

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

ANALYSIS

Weak Dollar Scaring Off Foreign Funds

US policy has big China, Gulf spenders looking to divest

Jul 17, 08 4:18 PM CDT
(Newser) - 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... More »

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China • inflation • Abu Dhabi • investment • weak dollar • Abu Dhabi Investment Authority • sovereign wealth funds • divestment • State Administration of Foreign Exchange

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