DOOM NEWS / SEARCH
16 stories found
Eurozone inflation climbed to 3.8%, its highest level in three years. Energy prices rose 18.8% in September, up from 14.3% a month earlier, amid disruptions to fuel supplies from the Middle East.
The average UK diesel price has reached £2 a litre for the first time, while eurozone inflation rose to 3.8%, its highest level in three years. G7 countries agreed to release up to 100 million barrels of oil and diesel from strategic reserves.
US inflation came in below expectations in August, reducing traders’ bets on a Federal Reserve rate hike as soon as October. LSEG data put the implied probability at about 35%, down from roughly 45%.
Annual inflation in France rose to 3% in September. The national statistics office attributed the increase largely to a surge in energy and fuel costs, which climbed 21.2%.
Higher prices for bread, sugar and meat are putting additional pressure on Sudanese households. Families are already coping with war and economic instability.
Bank of England deputy governor Clare Lombardelli said interest rates would probably need to rise if elevated energy prices kept inflationary pressures persistent. She said the size and duration of the energy shock remained materially uncertain.
UK inflation rose from 2.9% in July to 3.1% in August, driven mainly by higher fuel costs. Prime Minister Andy Burnham said the 28 October budget will involve “difficult decisions” as the government considers the fiscal impact of the Middle East conflict.
Central banks in the US, Japan and the UK will decide interest rates this week as renewed inflation and volatile bond markets reshape expectations. The Federal Reserve is due to act on Wednesday, the Bank of England on Thursday and the Bank of Japan on Friday.
Annual US inflation was 3.4% in August, unchanged from July. Energy-price increases after the U.S.–Iran ceasefire ended pushed gasoline and diesel higher while core inflation rose to 2.4% year-over-year, according to the US Bureau of Labor Statistics.
The European Central Bank raised its main interest rate from 2.25% to 2.5% and warned that the Middle East conflict is increasing inflation risks. It now forecasts eurozone inflation at 3% this year and growth of 0.9% in 2026.
Australian Treasurer Jim Chalmers said global economic pressures are intensifying but the government is not anticipating a recession at home. Officials are seeking further savings before the December mid-year budget update, after the May budget identified A$44.9bn in cuts over four years.
Brazil votes on Sunday in a closely fought presidential election between Luiz Inácio Lula da Silva and Flávio Bolsonaro. Analysts say a Bolsonaro victory would strengthen Donald Trump’s rightwing bloc in Latin America, while Lula’s camp presents the contest as a test of regional autonomy.
Annual UK house price growth halved to 0.8% in September. The average home cost £274,251, while average two- and five-year fixed mortgage rates rose above 5.9%.
The Reserve Bank of Australia raised its benchmark interest rate to 4.6%. The decision came amid stubborn inflation and took the rate to its highest level in 15 years.
The Bank of England kept its main interest rate at 3.75% for a sixth consecutive meeting but warned it could raise rates if energy prices remain high. It now expects inflation to be slightly above 4% at the start of next year.
Investors resumed dumping government bonds after oil rose above $107 a barrel amid concerns over advances by Houthi rebels along the Red Sea. Yields jumped: 10-year UK gilts topped 5.37% and 10-year US Treasuries reached 4.92%.