3 days ago
The US Federal Reserve faces a tricky balancing act, as it tries to navigate high inflation and instability in the banking sector. Alexander Yokum, of CFRA Research, says the collapse of Silicon Valley Bank and Signature Bank could affect the Fed's next interest rate decision, despite a 6 percent jump in consumer prices.
Food prices contributed to the high inflation rates, increasing even more than fuel prices. The prices of energy products were 19.1% higher year-on-year in February.
Relentless rains in South Africa have claimed at least a dozen victims with the bad weather forcing the government to declare a national state of disaster. It comes less than a year after the country’s deadliest floods. And, as the civilian death toll rises from rebel fighting in Eastern Congo, more people are seeking refuge in the North Kivu town of Goma.
The government in Buenos Aires has imposed price caps on many goods to rein in runaway inflation. While the curbs are welcomed among low income locals, economists doubt they will remedy the country's persistent problem.
The European Commission has revised its economic forecasts upwards slightly, predicting growth of almost 1% in the bloc for 2023. Inflation is expected to slow but remain high, a little more so outside the eurozone.
A building-price explosion has ruined Germany's apartment-building plans. The rental market is becoming nightmarish, and experts say the government hasn't even begun to grasp the scale of the crisis.
Inflation in Germany stood at an aggregate of 7.9% for 2022, official figures show. That's the highest it's ever been in Germany's post-war history. Food and fuel prices in particular drove consumer prices skyward.
France's cost of living crisis shows signs of stabilizing, as inflation dropped from 7.1% to 6.7% in December. It's among the lowest levels in the Eurozone, but many households and businesses are still struggling. French bakers are asking for more financial aid, with the cost of flour up a staggering 45%.
France's cost-of-living crisis shows signs of stabilising, as inflation dropped from 7.1 percent to 6.7 percent in December. It's among the lowest levels in the eurozone, but many households and businesses are still struggling.
Consumers can expect more price rises in 2023 and 2024 as energy costs remain elevated, the head of a group of experts advising the German government said.
The head of Germany's central bank has said it will take until 2024 for inflation to decline sharply. Joachim Nagel said it would take time for the effect of higher interest rates to kick in.
The euro is performing better than expected with annual inflation dropping to 10% in November this year, partly due to energy prices. But experts are not overly optimistic.