Economy news

Wholesale prices in the US climbed 8% in October from last year, the fourth straight decline and another sign that inflation pressures are waning from previously high levels.The annual wholesale inflation figure is a reduction from the 8.4% in Septem...

The London bourse has surrendered its post as Europe's most-valuable stock market, with France supplanting it. A weak pound and worries of recession in the UK are thought to be some of the factors behind the development.It is the first time that Pari...

The US Federal Reserve’s battle with out-of-control inflation has pushed up the average credit card APR (annual percentage rate) for Americans to 19.04% as of November 9.The information comes from bankrate.com and is the highest rate on its database...

China’s exports and imports unexpectedly fell in October, the first drop in both measures since May 2020, as soaring inflation and surging interest rates buffeted global demand.Grim trade figures released in October highlight the challenge for policy...

The Canadian economy recorded a massive job gain in October, coming in 10 times higher than expected, with the jobless rate remaining unchanged. The positive news came a week after a lower-than-expected interest rate hike by the Bank of Canada (BOC)....

The BOE moved this week to boost its key interest rate to 3%, up from 2.25%, marking a whopping 75-basis-point rate hike. This came after consumer price inflation returned to a 40-year high in September.The UK’s central bank has warned that the count...

Consumer price growth in the 19 countries that use the euro has raced to 10.7% in October from 9.9% in September. This latest data is putting pressure on the European Central Bank (ECB) to act more aggressively to tackle inflation.A key inflationary...

While the Bank of Canada (BoC) once again hiked interest rates last week, its latest increase of 50 basis points was lower than the expected 75 basis points. It is the sixth-rate hike since March and brings the country’s official interest rate up to...

After months of trying to energize the yuan, the People’s Bank of China has exhausted most of its policy tools, leaving it with some hard choices.The yuan now trades at 7.24 against the US dollar, a softer position brought on by a 12% rally in the Am...

Inflation in Australia soared to a 32-year high in the last quarter as the cost of living continued to climb. Prices for gas and construction items skyrocketed, surprising analysts and renewing calls for a return to more aggressive rate hikes by the...

US consumer confidence weakened in October as renewed concerns about inflation dented the near-term consumer outlook. This came after a slight improvement in consumer sentiment over the prior two months.The Conference Board reported this week that it...

Sri Lanka’s National Consumer Price Index soared to a new high of 74% in September from a year earlier, up from 70% in August, the country’s statistics office said.Annual food price inflation increased to 86% from 84% in August while prices of non-fo...

It has been a turbulent week for the UK, both economically and politically. The headline news is, of course, the resignation of embattled prime minister Liz Truss, but that should not distract from the gloom facing the economy.Figures released this w...

The cost of living in France is becoming unbearable, with electricity bills surging because of a cut in Russian natural gas supplies that has sparked an energy crisis in Europe. Against this backdrop, tens of thousands of people took to the stre...

Britain’s new finance minister has revealed a detailed reversal of the UK government’s tax-and-spending plans in a last-ditch effort to calm skittish markets and restore the government’s credibility.After just four days in the role, Jeremy Hunt annou...