Source: Bureau of Labor Statistics Inflation surged to 8.5% in March, hitting the highest level in over four decades. QQQ is up 1.33%, while SPY is up 0.85%. The Consumer Price Index for All Urban Consumers clocked in at 8.5%, the highest since December 1981.The acceleration was mainly due to energy prices which surged by 32.0%. Energy commodities soared by 48.3%, … [Read more...] about US Inflation Quickens to Four-Decade High of 8.5%
Inflation
Eurozone Inflation Accelerates to New All-Time High 7.5%
Source: Eurostat Inflation in the eurozone climbed to a fresh record high in March, driven mainly by the increase in energy prices during the month. EZU is down 0.83%, while VGK is up 0.85% premarket. Inflation stood at 7.5% in March, up from 5.9% in the previous month and 1.3% in the same month last year.Core inflation jumped to 3.2%, up from 2.9% in February and 1.0% in … [Read more...] about Eurozone Inflation Accelerates to New All-Time High 7.5%
UK Inflation Soars to 29-Year High, Producer Inflation to 13-Year High in February
Source: Office for National Statistics Consumer prices in the United Kingdom grew by a 29-year high, and producer prices by a 13-year high in February. EWU is down 0.47% premarket. Consumer prices rose by 6.2%, faster than the 5.5% in January and the 0.4% recorded in the same month last year.The latest reading is the fastest annual inflation since March 1992 when it stood … [Read more...] about UK Inflation Soars to 29-Year High, Producer Inflation to 13-Year High in February
Bank of England Hikes Key Rate to 0.75% As Inflation Run Hot
Source: Bank of England The Bank of England raised its interest rate for the third time to 0.75% from the previous 0.5%, pointing to a desire to counter inflation which is rising amid high commodity prices. FTSE 100 is up +0.65%, GBPUSD is down -0.35%. The central bank hinted at further rate increases in the coming months, although it warned that “there are risks on both … [Read more...] about Bank of England Hikes Key Rate to 0.75% As Inflation Run Hot
Eurozone, EU Inflation Surges to Historic Highs as Energy Prices Soar
Source: Eurostat Inflation continued to accelerate in both the eurozone and the European Union in February, as energy prices drove the overall readings to historic highs. EZU is down 0.83%, and VGK is down 0.90% premarket. Eurozone inflation clocked in at 5.9% in February, up from the 5.1% in January and the 0.9% recorded the same month in 2021.Inflation in the EU stood … [Read more...] about Eurozone, EU Inflation Surges to Historic Highs as Energy Prices Soar
