inflation
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Fed and ECB reaffirm 2% inflation goal | The Express Tribune
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[ad_1] JACKSON HOLE: Any thoughts that the 2% inflation goal long sought by the US Federal Reserve and the European Central Bank (ECB) might possibly be in for a tweaking were dashed on Friday by the chiefs of the two institutions. Gathering in Jackson Hole, Wyoming for the annual Federal Reserve Bank of Kansas City…
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Fed’s Jerome Powell favours further monetary policy tightening to tame US inflation
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[ad_1] US Federal Reserve Chair Jerome Powell speaks during a news conference on interest rates, the economy and monetary policy actions, at the Federal Reserve Building in Washington, DC, June 15, 2022.— AFP/File In a worrying development, the US Federal Reserve is ready to increase interest rates — and maintain them there — to ease…
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Canada’s new minister determined to solve housing crunch by easing inflation
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[ad_1] Immigration Minister Sean Fraser rises in the House of Commons. The Canadian Press Canada’s pressing issue of affordable housing shortage could witness alleviation as inflation recedes and interest rates attain a more predictable trajectory, asserted the recently appointed Housing Minister Sean Fraser on Tuesday. Sean Fraser’s selection last month, as part of Prime Minister…
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Fuel price hike adds to inflation woes | The Express Tribune
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[ad_1] ISLAMABAD: The country is witnessing a concerning surge in inflation, as indicated by the Sensitive Price Indicator (SPI), which has recorded a 1.30% increase in weekly inflation and a staggering annual surge of 29.83%. This inflationary trend comes shortly after the government raised petrol and diesel prices by nearly Rs20 per litre each, bringing…
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Inflation slows to 28.3% for second month in a row
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[ad_1] A woman checks the smell of rice at a market in Karachi on June 10, 2020. — AFP The headline inflation witnessed a decline for the second consecutive month in July, the Pakistan Bureau of Statistics (PBS) data revealed on Tuesday. The Consumer Price Index-based inflation (General) was 28.3% on a year-on-year basis in…
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Weekly inflation rises by 3.73% | The Express Tribune
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[ad_1] ISLAMABAD: Inflation in the last week surged by 3.73% brining the annual rate to a record high of 29.21%, according to the Pakistan Bureau of Statistics (PBS) on Thursday, highlighting the severity of the current economic situation in the country. The PBS report stated that within the last week, the prices of 20 key…
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Wall St climbs on cooler inflation | The Express Tribune
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[ad_1] BOSTON: World stocks extended gains on Friday while the dollar held near 15-month lows after US inflation data this week unleashed a wave of investor optimism that the US Fed was nearing the end of its rate-hiking cycle. Data showed on Wednesday US consumer prices growing at their slowest pace in more than two…
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Weekly inflation up by 0.03 percent | The Express Tribune
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[ad_1] ISLAMABAD: After two consecutive weeks of decline, inflation in Pakistan has begun to rise once more. During the recent week, there was a slight increase in the inflation rate, up by 0.03 percent, with an annual inflation rate recorded at 42.67 percent.The inflation rate for individuals with a monthly income ranging from Rs17,733 to…
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Pakistan’s CPI inflation spikes to record high on runaway food prices
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[ad_1] An undated image of consumers buying fresh vegetables from a local market. — AFP/File The consumer price index (CPI) based inflation in Pakistan surged to a record 38% on a year-on-year (YoY) basis in May 2023, the highest since July 1965, largely fired up by runaway food prices that continue to defy curbs. Pakistan…
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Iranian oil gains popularity in Pakistan amid soaring inflation
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[ad_1] A vendor waits for customers to buy petrol from his roadside setup in Lahore on January 14, 2023. — APP/File Iranian oil, which is being sold at considerably cheaper rates, has been gaining popularity in Pakistan in recent months amid record-high inflation and near-constant increases in fuel rates. The rise of Iranian oil imports…
