According to the U.S. Bureau of Labor Statistics, inflation measured by the annual change in the Consumer Price Index (CPI) was 3% in June, beating market estimates of 3.1%. In addition, Core CPI inflation falls to 4.8% from 5.3% in May, the lowest level seen since November 2021. This allows
Turkey’s central bank delivered a significant interest rate rise on Thursday, signaling a turn towards more traditional economic strategies to tackle sky-high inflation. The bank’s benchmark interest rate was increased by 6.5 basis points, to 15%. The first hike since March 2021, represents a leap from the current 8.5% but
U.S. Consumer Price Index (CPI) numbers for May 2023 were issued by the Bureau of Labour Statistics on Tuesday. The authorities said that the CPI for all urban consumers grew 0.1% in May after adjusting for seasonal factors and increased by 4% over the previous 12 months. As a result,
During the last Federal Open Market Committee (FOMC) meeting in May, the chairperson of the Federal Reserve System (FED), Jerome Powell conveyed that the Central Bank in the U.S. won’t be proceeding with the hikes but rather will halt for a period. However, the upcoming FOMC meeting on June 13-14
In order to bring inflation under control, the International Monetary Fund (IMF) advises the Federal Reserve of the United States to maintain hiking interest rates for a longer length of time. The IMF also recommended that the Biden administration use stricter fiscal policies to bring down the national debt. Under
Today, the world’s fourth-largest economy, Germany, was confirmed to be in recession due to the drop in the euro’s value. Meanwhile, the dollar reached a two-month peak as demand for safe-haven assets rose because of growing concerns about a US default on its debts. The biggest economy in Europe Germany
According to the US Bureau of Labor Statistics, annual inflation in the United States for April came in at 4.9%, which was lower than the consensus estimate of 5%. In addition, after increasing by 5.6% in March, the annual core inflation rate declines to 5.5% in April. As a consequence,
Compared to February, when prices grew by 0.4%, the CPI increased by 0.1% in March 2023 after seasonal adjustments were made. Inflation statistics for March showed an annual rise in the all-items index of 5.0% before seasonal adjustment. The Consumer Price Index (CPI) for March 2023 had recently been issued
Companies have continued to develop despite widespread regulatory monitoring. A leading cryptocurrency exchange, Coinbase, is investigating “flatcoins” on its Base network. Inflation-pegged stablecoins, or “flatcoins,” were recently disclosed by Coinbase to be necessary for development on the Base network. This is one of three important breakthroughs the company plans to
The value of Bitcoin (BTC), the biggest cryptocurrency, increased by an astounding 18% during the previous 24 hours to surpass the $26,000 mark. This increase occurs after inflation rates seemed to be leveling off in February. Yet, February’s inflation increase was in keeping with market forecasts. The annual inflation rate
