Inflation

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September 2008
- 99 Cents Only Hikes Prices, But Only by 0.99 Cent
  
  Los Angeles Times | 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. The move is expected to earn the chain an extra $12 million. More »
August 2008
- Inflation Hurts US Workers; Europeans Keep Pace
  
  Wall Street Journal | 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 wages are indexed to prices, an inflationary spiral is particularly hard to break, the paper observes. More »
- Wholesale Prices Rising at Fastest Pace Since 1981
  
  Associated Press | 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 fell to the lowest pace in more than 17 years. More »
- Consumer Prices Jump in July; Inflation at 17-Year High
  
  Associated Press | Aug 14, 08 9:07 AM CDT
  
  (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 soaring prices, following jumps of 0.6% in May and 1.1% in June. More »
- Bank of England Pressed to Rein in Inflation
  
  Guardian (UK) | 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 1-month jump under the Labor government, boosting pressure on the Bank of England to raise interest rates. More »
July 2008
- Say Goodbye to the Reagan Revolution
  
  Wall Street Journal | Jul 25, 08 11:18 AM CDT
  
  (Newser) - The Reagan Revolution, which ushered in a quarter century of deregulation, looks as if it's taken a stake in the heart, the Wall Street Journal reports. The Fed is offering tens of billions in emergency loans to failing banks, the SEC wants more power to regulate financial institutions, and the Treasury arranged JPMorgan’s purchase of Bear Stearns and then lobbyied Congress to prop up Fannie and Freddie. Is it dead, or just wounded, the Journal wonders. More »
- 9M% Inflation Crushes Zimbabwe
  
  Guardian (UK) | Jul 18, 08 9:56 AM CDT
  
  (Newser) - The political violence that ravaged Zimbabwe has subsided since Robert Mugabe's sham reelection, but another devastation continues unabated: economic meltdown. Zimbabwe's inflation rate has now hit 9 million percent, and a $50-billion Zimbabwean note is worth just 34 cents and falling in American currency. The Guardian investigates the surreal economic landscape of what was once one of Africa's most prosperous nations. More »
- Consumer Prices Surge Most Since '91
  
  Bloomberg | Jul 16, 08 9:35 AM CDT
  
  (Newser) - 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
  
  MarketWatch | Jul 3, 08 8:29 AM CDT
  
  (Newser) - 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 »
June 2008
- Faltering Banks Push Stocks Down
  
  Wall Street Journal | Jun 17, 08 3:15 PM CDT
  
  (Newser) - 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 »
- Stocks Rally on Dollar's Strength
  
  MarketWatch | Jun 13, 08 3:14 PM CDT
  
  (Newser) - The markets rallied today, pushing the Dow into positive territory for the week, off a strong dollar and a drop in oil prices. The Dow gained 165.77 to close at 12,307.35, a weekly gain of 0.8%. The Nasdaq climbed 50.15 to 2,454.50 but posted a weekly loss of 0.8%. The S&P 500 gained 20.16, settling at 1,360.03, flat for the week. More »
- Dollar Soars to Biggest Weekly Gain in 3 Years
  
  Bloomberg | Jun 13, 08 5:21 AM CDT