London CNN — China’s swift reopening after nearly three years of strict coronavirus controls could provide a much-needed boost to global economic growth, but may also stoke inflation just as it has shown signs of falling back. The revival of the world’s second largest economy — and its biggest consumer of commodities — threatens to […]
Editor’s Note: A version of this story appears in today’s Meanwhile in the Middle East newsletter, CNN’s three-times-a-week look inside the region’s biggest stories. Sign up here. Abu Dhabi CNN — Egypt’s economic situation is so dire that the government is asking people to eat chicken feet. The Arab world’s most populous nation is suffering […]
Minneapolis CNN — Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022. Grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year, according to data released Thursday by the Bureau of Labor Statistics. Blame […]
New York CNN — Canada in 2023 is closing its doors to foreign investors who want to purchase homes. A new Canadian law took effect January 1 that essentially bans foreign buyers from buying residential properties as investments for two years. The law was passed because of a spike in Canadian home prices since the […]
Minneapolis CNN — Inflation as measured by the Consumer Price Index cooled considerably in November and is at its lowest level in almost a year. Prices rose 7.1% annually in November, down from 7.7% in October, according to the Bureau of Labor Statistics’ closely watched index, which measures the change in prices paid by consumers […]
London CNN Business — Soaring energy costs drove UK inflation to a fresh high in October, the latest piece of bad news for an economy sliding into recession. The annual rate of inflation rose to 11.1% in October, up from 10.1% in the 12 months to September, the Office for National Statistics said on Wednesday. […]
Minneapolis CNN Business — A key measure of inflation, wholesale prices, rose by 8% in October from a year before, according to the latest report from the Bureau of Labor Statistics. The number is significantly better than forecasts. Economists expected the Producer Price Index, which measures prices paid for goods and services before they reach […]
London CNN Business — European inflation has accelerated to a new record high as energy and food prices in the region continue to skyrocket. Prices across the 19 countries that use the euro increased at an annual rate of 10.7% in October, up from 9.9% in September, according to initial estimates released Monday. Energy prices […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — Imminent recession is the topic du jour. From Goldman Sachs to the IMF, […]
Minneapolis CNN Business — A key inflation report showed consumer prices came in hotter than expected in September, punishing Americans and giving license to the Federal Reserve to maintain its pace of historic rate hikes. On a monthly basis, overall consumer prices increased by 0.4% from August, according to data released Thursday by the Bureau […]
