Lower petrol prices help to slow US inflation

Image Source: NPR Even though the price of gasoline decreased last month, inflation and prices in the US rose at an annual rate of 8.3%. According to the Labor Department, food, housing, and medical care costs increased even though the annual rate decreased from 8.5% in July. A more broad relaxation of the inflationary pressures […]

US inflation eases in July as petrol prices drop

Image Source: The Jakarta Post The pace of rising prices in the US slowed down last month, but they still increased quickly. According to the Labor Department, the annual US inflation rate, which measures how quickly prices rise, dropped from June’s peak of 9.1% to 8.5% in July. Aside from energy, prices for a wide […]

Apple and Amazon’s earnings up amid rising prices

Image Source: Biz News Earnings from sales from Amazon and Apple exceeded expectations, encouraging investors that the tech giants can withstand slowdowns in the world economy. In a trading update, Amazon predicted that increasing the cost of its Prime membership would improve its bottom line, while Apple stated that demand for its crucial iPhone remained […]

KitKat Maker Nestle Raise Prices again

Image Source: Zdioy Nestle, the producer of KitKats, has raised its prices once more due to “unprecedented” cost hikes. According to the Swiss food juggernaut, prices rose by 6.5 percent in the first half of this year. This week, price increases were also announced by McDonald’s and Coca-Cola. Consumer prices in the UK are rising […]

US makes Increases Interest Rate to Tame Soaring Prices

Image Source: BBC To contain rising prices in the greatest economy in the world, the US central bank has announced yet another abnormally large interest rate increase. The Federal Reserve announced that it would raise its benchmark interest rate by 0.75 percentage points, with a target range of 2.25 to 2.5 percent. Since March, the […]

Gas prices soar as Russia cuts German Supply

Image Source: DW Due to Russia’s continued reduction of gas supply to Germany and other central European countries, gas prices have risen earlier this week’s warning to do so. Gasoline prices in Europe rose by almost 2% and are already close to the record high reached after Russia invaded Ukraine. Critics accuse the Russian government […]

Inflation Drives Prices to a 40 year high

Image Source: Bloomberg Higher fuel and food prices are the leading causes of inflation continuing to grow at their quickest rate in more than 40 years. According to the Office for National Statistics (ONS), the price growth rate in the UK increased from 9.1 percent in May to 9.4 percent in the twelve months that […]

Food prices fall globally but shoppers still face bill hikes

Image Source: News Jungle For the third month in a row, there was a slowdown in food prices increases in June, but any advantages are unlikely to show up in grocery store prices for a while. According to the most recent United Nations Food Price Index, the price of important wholesale food commodities decreased by […]

Prices in Turkey rise at fastest pace for in over two decades 

Image Source: DW According to the most recent government statistics, prices are rising in Turkey at their quickest rate in 24 years. In June, the annual rate of inflation, or the rate at which prices grow, came in at 78.62 percent, which was somewhat higher than expected. Some of the most notable price rises in […]