inflation
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We brought you reports from Bloomberg earlier that the pound could slump as much as 8% – and now we have some commentary from the trading floor about what is anticipated. As markets opened this morning, the pound headed towards the $1.21 mark, the lowest level since November 2023. But Tony Redondo, founder at Cosmos…
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Confidence among UK residents appears to have been shaken “without a piece of news that’s pushed them there”. “Which suggests it’s vibes,” says Ed Conway. “The vibes have gone against the UK.” From Brexit to the budget – it’s all contributing It’s not as if Britain is a massive outlier, he notes, with the cost…
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The treasury borrowed less than expected in November, as a previous reduction in inflation pushed down interest rates on government bonds. Economists had predicted public sector net borrowing last month would be about £13bn. But figures from the Office for National Statistics (ONS) show the sum was actually £11.2bn. Borrowing is the difference between public…
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A business and economics expert Gurpreet Narwan has been taking a look at the unsurprising decision by the Bank of England to hold interest rates at 4.75%. She says what was “more striking” was the policy rift starting to emerge on the Bank’s Monetary Policy Committee, with six members voting to hold the rate and three voting…
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•Does not believe in price controls •Has no regrets removing subsidy •Says borrowing not a crime •Tax reforms have come to stay, but open to negotiations on VAT •Expresses confidence in his security architecture •Insists reforms not designed to inflict pains on Nigerians, necessary for growth •Says he has met obligations without recourse to NNPCL…
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The Lao central bank, the Bank of the Lao PDR (BOL), is set to further increase interest rates to alleviate inflationary pressures currently affecting the economy. The bank’s Monetary Policy Committee has decided to raise the interest rate on Lao currency kip from 10 percent to 10.5 percent per year. The interest rate on foreign…
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Wine consumption in Nigeria declined by 9 percent to 31.5 million liters in 2023 from 34.7 million in 2022 amid inflation. This is according to a recent report by Euromonitor International. The data shows that the decline in the consumption of wine is not unconnected to the country’s inflation which stood at 33.40 percent in…
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Most economists believe that inflation, deficits and interest rates would be higher during a second Donald Trump administration than if Joe Biden remains in the White House, according to a Wall Street Journal survey. The Journal’s survey received responses from 68 professional forecasters from business, Wall Street and academia. Of the 50 who answered questions…
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India’s retail inflation rose to a four-month high of 5.08 percent in June, the latest government data showed Friday. According to the data released by the federal Ministry of Statistics and Programme Implementation, inflation based on the Consumer Price Index (CPI) in June was 5.08 percent. In May CPI was 4.80 percent. Food inflation rose…
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US consumers are becoming increasingly worried about the trajectory of the US economy amid sticky inflation and the prospect of high interest rates for longer than initially hoped. The latest University of Michigan consumer sentiment survey released Friday revealed a 13% decline in overall sentiment during the month of May. The index reading for the…
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Data released this week showed that Canada’s annual inflation rate slowed more than expected to 2.9 percent in January. In addition, core price measures also eased, making it more likely for the Bank of Canada to cut interest rates early. The drop in headline inflation was the first time it dipped below three percent in…
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The quality of goods and services is suffering across the EU due to ‘skimpflation,’ European Parliament member Biljana Borzan from Croatia warned this week. The term refers to a cost-saving practice of “skimping” on the quality of products or services while keeping prices steady in order to protect margins. Skimpflation can manifest in anything from staff reductions at stores,…
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The Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, said monetary policy measures put in place by the apex bank would substantively tackle Inflation in the next two quarters. Cardoso disclosed this on Friday during his remark at the 58th Bankers Dinner of the Chartered Institute of Bankers of Nigeria in Lagos. According…
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The Central Bank of Nigeria insisted its monetary policy reforms had impacted the deceleration of prices in the country despite the rising inflation rate. MEZIESBLOG reports that Nigeria’s October inflation, which stood at 27.33 per cent, represents an 18-year high. But, the apex bank’s Director of Corporate Communications, Isa AbdulMunin, reacting to the National Bureau…
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Nigeria’s soaring inflation rate, which jumped to 25.80 per cent in August, has created severe economic shock. According to the National Bureau of Statistics, the latest inflation figure is the highest since August 2005. In May, inflation stood at 22.41 per cent, June inflation stood at 22.79 per cent, July was 24.08 per cent, and…
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The National Bureau of Statistics (NBS) said that inflation surged to 25.80% in August. The report said that food and transportation costs were mostly affected in the month of August, an indication that there is a 5.27% rise in inflation within Nigeria on yearly basis. Nigeria’s inflation surged to 25.80% in August, according to the…
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