inflation

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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...

Consumer Confidence Hits 26-year Low
Consumer Confidence Hits 26-year Low
Economy
Apr 25, 2008 10:59 AM CDT

Consumer Confidence Hits 26-year Low

Inflation, housing put people in a funk; most call it a recession

(Newser) - 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...

Fed Ponders Pause in Rate Cuts—After 1 More

Experts expect a last cut to 2% before the central bank stops and waits

(Newser) - 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...

Surging Energy Prices Drive Global Inflation

Food costs, up 83% in 3 years, also slap worldwide economies

(Newser) - 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...

Bank of England Cuts Interest Rate

Bank votes quarter-point cut to 5% as downward pressure mounts

(Newser) - 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...

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