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2.7%
“Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers,” CNBC reports. “The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday.”
21%
Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to combat growing inflation as government spending on the military strains the economy’s capacity to produce goods and services – and drives up workers’ wages, reports Euro News. By contrast, it’s 2.4% in the U.S., according to CNBC.
<$3
“Gasoline is approaching or has fallen below $3 a gallon in most states, returning to a national average not seen since February in one of the clearest examples of prices declining after a period of rapid inflation,” the New York Times reports. “Prices at the pump averaged $3.16 for regular gas on Tuesday, down 11 percent from this time last year.”
2.9%
New York Times: “Overall inflation was 2.9 percent in July on a yearly basis, the Bureau of Labor Statistics reported, easing slightly from 3 percent in June and a bit milder than economists had expected. … While inflation still exceeds the 2 percent that was normal before the coronavirus pandemic, it is much slower than the 9.1 percent peak in 2022.”
56%
“The Wall Street Journal’s survey, conducted July 5-9, received responses from 68 professional forecasters from business, Wall Street and academia. Of the 50 who answered questions about Trump and Biden, 56% said inflation would be higher under another Trump term than a Biden term, versus 16% who said the opposite. The remainder saw no material difference.”
3.6%
New York Times: The Consumer Price Index climbed 3.4 percent in April, down from 3.5 percent in March, the Labor Department said Wednesday. The “core” index — which strips out volatile food and fuel prices in order to give a sense of the underlying trend — rose 3.6 percent last month, down from 3.8 percent a month earlier. It was the lowest annual increase in core inflation since early 2021.
2.4%
“The U.S. economy grew solidly last quarter and remained well clear of a recession despite the Federal Reserve pushing interest rates higher,” the Wall Street Journal reports. “Gross domestic product grew at a seasonally and inflation adjusted annual rate of 2.4% in the second quarter, picking up slightly from 2% growth in the first three months of the year.”
3%
U.S. consumer prices rose 3 percent in the year through June, a considerable cool-down from the peak of around 9 percent last summer, reports the New York Times.
13%
Wall Street Journal: “Candy prices are up more than 13% from a year ago, according to the Labor Department, the largest-ever yearly jump for candy. Surging labor costs and skyrocketing flour and sugar prices have helped fuel the increase, candy makers say.”
48%
“It began with a few outraged customers posting photographs of their electricity bills to social media, showing how charges had almost doubled at the end of January. But such complaints have quickly snowballed into a full-blown political crisis for the government of President Recep Tayyip Erdogan of Turkey,” the New York Times reports. “Turks have been hit with runaway inflation — now officially more than 48 percent — for several months, and criticism is growing even from Mr. Erdogan’s own allies as he struggles to lift the country out of an economic crisis.“
