Economy
US inflation holds at 3.4% as monthly price rises hit fastest pace since May
US consumer prices rose 3.4% in the year to August, unchanged from July and exactly in line with expectations, but the monthly increase of 0.4% was the sharpest since May, a sign the energy shock is starting to bite four days before a Federal Reserve decision markets expect will deliver a rate hike.
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Economy
An ECB rate hike is all but certain, the reasoning less so
The European Central Bank is all but certain to raise interest rates on Thursday, with investors pricing the move at near-total probability, but the decision is more awkward than the numbers suggest as inflation is being driven almost entirely by energy with underlying pressures actually easing.
Economy
Why is fuel expensive when crude oil hasn't hit record highs?
Pump prices could remain high in Europe, adding to inflationary pressure. The immediate problem is not just the supply or price of crude oil, but limited refining capacity, disrupted trade flows and shortages of finished fuels, particularly diesel.
Russia
Utility bill hike pushes Russia's inflation further off target
The October increase follows a January rise and is the first double tariff hike in four years. The central bank warned it would push annual inflation further above its 4% target in an economy already squeezed by the costs of its war, sanctions and a 21% key interest rate.
Economy
German inflation rises to 2.9% in August, coming in below expectations
Inflation in Germany rose 2.9% in the year to August on the harmonised measure tracked by the European Central Bank, a fresh acceleration from July but well short of the 3.1% economists had expected, in a reading that offers modest relief to policymakers meeting in Frankfurt next week.
Economy
Warsh faces yields, a Treasury rescue and inflation at Jackson Hole
Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole address on Friday with long-term borrowing costs elevated, inflation above target and the US Treasury already intervening in bond markets to do what monetary policy has not.
Economy
Inflation in Spain rises to 3.6% in July, worst rate in over two years
Spain has logged five months in a row of annual inflation above 3%, driven by costlier electricity and fuel as the partial closure of the Strait of Hormuz persists. In July, power prices top €100 per MWh, the highest year-on-year figure since 2022.
Economy
US inflation eases to 3.4% in July as Fed's next call stays uncertain
US inflation eased for a second month in July, with consumer prices rising 3.4% from a year earlier, down from 3.5% in June, exactly as economists had forecast, a reading that hands neither side of a divided Federal Reserve fresh ammunition before next month's rate decision.