Tag: Inflation

9 June 2023, Islamabad, Pakistan The Pakistan Economic Survey 2022/23 highlights the challenges faced by Pakistan's economy and the growth experienced during the fiscal year....

The US Economy is on the brink of recession, brought on by a reckless spending policy of the Biden Administration. Notable figures like Bank of America CEO Brian Moynihan and Federal Reserve Chairman Jerome Powell have voiced their concerns.

According to CEOs, the largest US banks are preparing for a poorer economy next year as inflation threatens consumer demand. Jamie Dimon, the chief executive...

Oil prices rose 2% as OPEC+ kept production targets and Chinese COVID restrictions ease. WTI crude futures climbed 0.9% to $80.68, while Brent crude increased 0.8% to $86.29, signaling potential increased global demand and market stability.

OPEC and allied producers, including Russia, slightly reduced oil output for October, trimming supplies by 100,000 barrels per day. The move comes amid recession fears and falling crude prices, which have dropped from June's $120 per barrel peak, providing relief at gas pumps.- EXCERPT: Summarizes key points, highlights impact, and uses relevant keywords

Indonesia dramatically increased fuel prices by 30%, with Pertalite gasoline rising from 51 to 67 cents per liter and diesel from 35 to 46 cents. Long lines formed at gas stations as citizens rushed to purchase cheaper fuel before the price hike took effect.

Asian stock markets show mixed performance as investors await crucial US employment data. Shanghai and Seoul advanced, while Tokyo and Hong Kong retreated. The August jobs report may influence Federal Reserve's strategy on interest rates and inflation management.[100 words]

- President Biden visits Iowa to announce waiving ethanol blending restrictions, aiming to reduce gasoline prices by around 10 cents per gallon. This move is part of his strategy to combat inflation, which reached 8.5% in March, the highest rate since 1981.- EXCERPT: Condensed 100-word summary providing context and key information

Eurostat reports eurozone inflation surged to 7.5% in March, the highest since 1997, as rising energy prices and the Ukraine war squeeze consumer spending. This marks the fifth consecutive month of record-breaking inflation, reflecting global economic challenges and increasing cost of living pressures.

Singapore's core inflation moderated to 2.2% in February, below expectations, but authorities warn of potential upside risks from geopolitical tensions and pandemic-related disruptions. The Monetary Authority of Singapore anticipates further inflation pressures in the near term.