inflation

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Eurozone Sees First Slump; Germans Lead Decline

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

(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...

Bank of England Pressed to Rein in Inflation

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

(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...

Iraq Private Sector Stalls, Public Hiring Fills Gap

Economy driven by single employer sparks financial concerns

(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...

Oil Drops; Stocks Follow
 Oil Drops; Stocks Follow  
MARKETS
Aug 4, 2008 3:35 PM CDT

Oil Drops; Stocks Follow

Gray day on Street ahead of Fed's policy meeting

(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...

Zimbabwe Launches $100B Bill
 Zimbabwe Launches $100B Bill 
Jul 20, 2008 3:29 PM CDT

Zimbabwe Launches $100B Bill

Note likely to prove ineffectual against hyperinflation

(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....

Weak Dollar Scaring Off Foreign Funds
Weak Dollar Scaring Off Foreign Funds
ANALYSIS
Jul 17, 2008 4:18 PM CDT

Weak Dollar Scaring Off Foreign Funds

US policy has big China, Gulf spenders looking to divest

(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...

Consumer Prices Surge Most Since '91
 Consumer Prices
 Surge Most Since '91 
Economy
Jul 16, 2008 9:35 AM CDT

Consumer Prices Surge Most Since '91

Consumer prices up 1.1%; wholesale up 1.8%.

(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. “...

Europe Hikes Interest Rates to Curb Inflation

Central bank's quarter- point increase to 4.25% is first move in a year

(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...

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

Secretive German firm caves to pressure

(Newser) - 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...

What if Oil Hits $200?
 What if Oil Hits $200? 
Jun 28, 2008 3:35 PM CDT

What if Oil Hits $200?

Inflation would skyrocket as American society reorganizes

(Newser) - 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...

Stimulus' Boost Seen; How Long It Lasts Unsure

Economists debate impact, as inflation outpaces wage growth

(Newser) - 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...

'Difficult' Dow Ends Down 358
 'Difficult' Dow Ends Down 358 
MARKETS
Jun 26, 2008 3:37 PM CDT

'Difficult' Dow Ends Down 358

Oil surges past $140 as dollar weakens, financials downgraded

(Newser) - 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,...

Fed Likely to Hold Rates&mdash; for Now
Fed Likely to Hold Rates—
for Now
Jun 25, 2008 6:17 AM CDT

Fed Likely to Hold Rates— for Now

Bernanke hopes the 2% interbank rate will help economy rebound

(Newser) - 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.

Faltering Banks Push Stocks Down
 Faltering Banks 
 Push Stocks Down 
MARKETS
Jun 17, 2008 3:15 PM CDT

Faltering Banks Push Stocks Down

Financials tumble despite solid report from Goldman Sachs

(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...

Blip or Deeper Trouble? More Economists Grow Gloomy

Analysts speculate if gloomy figures have sparked fundamental change

(Newser) - 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...

Mixed Day Yields Mixed Results
 Mixed Day Yields Mixed Results 
MARKETS
May 30, 2008 3:30 PM CDT

Mixed Day Yields Mixed Results

Dell performance rallies tech; Commerce Department gives bad news

(Newser) - 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...

Oil, Inflation Wallop Stocks
 Oil, Inflation Wallop Stocks 
MARKETS
May 20, 2008 3:27 PM CDT

Oil, Inflation Wallop Stocks

Researcher: 'All the long-term indicators we look at are sending a bearish message'

(Newser) - 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,...

Two Shot in Somalia Food Riots
 Two Shot in Somalia Food Riots 
May 5, 2008 10:31 AM CDT

Two Shot in Somalia Food Riots

Thousands protest over inflation and soaring prices

(Newser) - 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,...

Euro About to Mark 10 Years
 Euro About to Mark 10 Years 
ANALYSIS
May 1, 2008 6:02 PM CDT

Euro About to Mark 10 Years

Common currency has its share of winners and losers

(Newser) - 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...

Rate-Cut News Sweeps Away Rally
 Rate-Cut News 
 Sweeps Away Rally 
MARKETS
Apr 30, 2008 3:38 PM CDT

Rate-Cut News Sweeps Away Rally

Stocks end down thanks to nervous investors

(Newser) - 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...

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